Banking and Financial Services

Types of Financial Institutions are

• Deposit

• Non-deposit

• Withdrawal

• Loans

____________ was created to supervise and regulate member banks and to help banks serve the public efficiently.

• Savings & Loan

• Federal Reserve System

• Commercial Banking

• Army Reserves

Banks sell services such as

• personal credit

• housewares

• paper goods

• checking accounts, savings accounts, loans and investments

Banks are regulated more strictly than other business.

• True

• False

One job of the Federal Reserve is

• withholding social security.

• holding of reserves.

• loaning individuals money.

• collecting outstanding loans.

What institution clears checks for member banks?

• Federal Reserve

• White House

• US Banks

• Credit Unions

_________ is the process of paying checks and other payments among different banks.

• Investing

• Clearing

• Depositing

• Loaning

___________ accepts deposits from people and businesses and uses them to finance their business.

• Members

• Non-Deposit Institutions

• Pawn Shops

• Deposit Institutions

___________ do not take or hold deposits. They earn money selling specific services or policies.

• Members

• Non-Deposit Institutions

• Pawn Shops

• Deposit Institutions

Four types of Depository Institutions are Commercial Bank, Mutual Savings Bank, Credit Unions and

• Pawn Shops

• Federal Reserve

• Savings and Loan Association

• Life Insurance Agencies