It is a corporation or a non-depository institution that maintains an account with a Reserve Bank
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A. B. C. D.B
The term "CRCM" typically stands for "clearing institution that is a Reserve Bank account holder." A clearing institution is a financial organization that processes financial transactions on behalf of its clients. This can include tasks such as clearing checks, settling securities transactions, and conducting wire transfers.
A Reserve Bank is one of the twelve regional banks that make up the Federal Reserve System in the United States. Reserve Banks are responsible for implementing monetary policy, supervising banks and other financial institutions, and providing services to depository institutions such as commercial banks, savings and loan associations, and credit unions.
So, a CRCM is a clearing institution that maintains an account with a Reserve Bank. This could include a variety of different types of financial institutions, including banks, savings and loan associations, credit unions, or foreign banks. The specific type of institution would depend on the context of the question.
In this case, the correct answer is B. Clearing institution, as this is the only option that specifically refers to a financial organization that engages in clearing activities. The other options may or may not maintain accounts with Reserve Banks, but they do not necessarily perform clearing functions as their primary business activity.