Banking in the United States

This persons job was to organize and supervise the new banking system through regulations and periodic examinations.

• Fed

• bankers

• comptroller of currency

The act of taking deposits and making loans is called

• primary reserves

• financial intermediation

• excess reserves

There are ____ Federal Reserve Banks.

• 7

• 6

• 12

Check the statements that are true about Federal Reserve Banks.

• They are banks whose customers are individuals or customers.

• Regulates banks and protect consumer financial rights.

• Performs services for financial institutions that a local bank performs for people.

• There are 11 Federal Reserve Banks.

Check off the statements that are true about banks.

• Banks put a surplus of funds(deposits & investments) to work by lending.

• Banks are not the first choice for borrowing, investing, and saving.

• Banks are vital to the health of our economy.

• Banks are used to accomplish economic policy goals by the government.

The Fed sets the limit on what portion of money deposited by customers can be invested elsewhere.

• True

• False

There are ___Federal Reserve Boards of Governors, appointed by the president and approved by the senate.

• 7

• 12

• 6

• 8

Banks pay a premium for FDIC protection.

• True

• False

Which president declared a bank holiday the day after taking office to deal with the banking crisis.

• Woodrow Wilson

• Franklin D. Roosevelt

• Herbert Hoover

What does OCC stand for?

• Orange County Choppers

• Out of Character

• Office of the Comptroller of the Currency

• Operation Christmas Child