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Regional Banks
Large banks like First Norwest, Chicago, Mellon and Crocker function regionally at the national level in a fashion same to money center banks. Regional banks serve as correspondents for smaller local banks in the similar way that money center banks act as correspondent for regional banks.
Modified duration is used to determine the percentage change in the bond's prices for a 100 basis point (1%) change in the yield. The underlying assumption is tha
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