Consider the following statements: Statement I: SWIFT should not be understood as an institution that itself holds customer funds or operates accounts on behalf of members. Statement II: It provides a secure and standardized messaging network connecting banks, other financial institutions, market infrastructures and corporate customers. Statement III: Access to SWIFT is confined only to banks. Which one of the following is correct in respect of the above statements?

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Economics · Economy

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Only one of the Statements II and III is correct and that explains Statement I.

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Answer 1

Neither Statement II nor Statement III is correct.

Answer 2

Only one of the Statements II and III is correct and that explains Statement I.

Answer 3

Both Statement II and Statement III are correct but only one of them explains Statement I.

Answer 4

Both Statement II and Statement III are correct and both of them explain Statement I.

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