14515611
Descrição
FlashCards por Jeff Davidson, atualizado more than 1 year ago
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Criado por Jeff Davidson
mais de 6 anos atrás
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| Questão | Responda |
| This act allow banks to consolidate so they may act as investment banks AND commercial banks while being able to also provide investment insurance | Gramm-Leach Bliley Act |
| What will happen to the economy is the FED raises interest rates (discount rate)? | Less consumer spending = economic slowdown |
| The number of Federal Reserve Districts = ? | 12 |
| Insures money in banks up to $250,000 | FDIC - Federal Deposit Insurance Corporation |
| This Act established a uniform standard of currency (Civil War Era) and a dual banking system (national and state banks) | National Banking Act of 1863 (into 1864) |
| This type of bank offers FULL banking services to its customers like accepting deposits and making loans (Ex: Citibank) | commercial banks |
| This Act established the FDIC (Federal Deposit Insurance Corporation) as a result of the Great Depression | Glass-Steagall Banking Act |
| What will happen to the economy if the FED (Federal Reserve) lowers interest rates (discount rate)? | Increased consumer spending = economic boost |
| Who is the Federal Reserve policy making group? | FOMC - Federal Open Market Committee |
| Their job is to regulate banks, control interest rates, loan money to banks, and issue gov't bonds | FED - Federal Reserve System |
| Can you name 3 basic types of bank accounts? | Checking, Savings, and CD (Certificate of Deposit) |
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