True or false Flashcards
Each ______________________ has its own board of directors.
Federal Reserve Bank
Savings accounts are called ______________________.
time deposits
A _____________ is a periodic record of deposits to and withdrawals from a checking account.
bank statement
The _____________________ receives most of the earnings of the Fed.
United States Treasury
_____________________ are usually regulated by the chartering state.
Mutual savings banks
The __________________________ can create money.
commercial banking system
________________ are usually charged on checking accounts.
Service charges
The policymaking body of the Federal Reserve System is the __________________.
Board of Governors
The deposits of most mutual savings banks are insured by the __________.
FDIC (Federal Deposit Insurance Corporation)
A craftsman who became a “banker” by issuing receipts for precious metals held for safekeeping was the _________________.
goldsmith
