Economics · CMS Mechanisms and Management Models

Consider the following statements regarding CMS operations and theoretical models: 1. 'Speed Clearing' allows checks drawn on CBS-enabled outstation branches to be cleared as if they were local checks within the same clearing grid. 2. CMS generates vital 'Non-Interest Income' or 'Fee Income' for commercial banks. 3. In a 'Target Balance Account' arrangement, a fixed amount is maintained in a sub-account, and any surplus/deficit is automatically swept to/from a concentration account. 4. The NACH system has largely superseded the older Electronic Clearing Service (ECS) for bulk debits and credits. 5. 'Concentration Banking' speeds up collections by using multiple local accounts to deposit checks before consolidating them into a central account. 6. The 'Miller-Orr Model' accounts for the inherent uncertainty in daily cash flows by setting upper and lower control limits. Which of the following evaluations is most accurate?