Money
Federal Reserve System
How Banks Operate
100
metallic form of money
What is a coin?
100
The Federal Reserve System
What is the central bank?
100
Accounts where people deposit money and then write checks or use debit cards
What are checking accounts?
200
Coins and paper money
What is currency?
200
The rate the Fed charges member banks for loans
What is the discount rate?
200
Accounts which pay interest to customers who make deposits
What are savings accounts?
300
Financial institutions that offer full banking services
What are commercial banks?
300
Requirement for banks to keep back a certain percentage of their money
What is reserve?
300
Money held by the bank for a specific period of time and earns interest
What is a certificate of deposit?
400
Financial institutions that used to only provide loans to people buying homes
What are savings and loans?
400
Controlling the supply of money and the cost to borrow money
What is monetary policy?
500
Federal corporation that insures individual bank accounts
What is the Federal Deposit Insurance Corporation (FDIC)?
500
Purchase or sale of government bonds and Treasury bills
What is open market operations?
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