Final answer:
Synchrony is part of the EZZZ Credit program as our primary financing provider, the given statement is 1) true because the primary credit program offers loans to depository institutions for short-term financing.
Step-by-step explanation:
The primary credit program is a system where loans are offered to depository institutions that are generally in sound financial condition and need short-term financing, typically overnight. In this program, depository institutions that qualify are extended loans for a short duration to meet their liquidity needs. The loans provided are under primary credit, and this is where Synchrony plays a role as the primary financing provider.
Secondary credit is another type of credit program that comes into play for depository institutions that are not eligible for primary credit or those experiencing severe financial difficulties. Seasonal credit is also provided to small depository institutions that have recurring fluctuations in liquidity needs within a year.
In conclusion the given statement is 1) true, Synchrony is a part of the EZZZ Credit program as the primary financing provider, which offers loans to depository institutions in need of short-term financing.