Multiple Choice
Which of the following is true?
A) The FDIC sets the reserve requirements for commercial banks.
B) The Federal Reserve System guarantees the deposits in almost all banks up to a limit of $1,000,000 (extended to $2,500,000 through 2013) per account.
C) Since the Federal Reserve System was established in 1913, bank failures due to panic withdrawals have been virtually eliminated.
D) If a bank should fail, the FDIC guarantees that depositors can get their funds up to a limit of $100,000 (extended to $250,000 through 2103) per account.
Correct Answer:
Verified
Correct Answer:
Verified
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