Term
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Definition
| portability, divisibility, durability, & stability |
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Term
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Definition
| Medium of exchange, store of value, measure of worth |
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Term
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Definition
| Currency, Checks, & Checking Accounts |
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Term
| M2: M1 + Convertible Money |
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Definition
| Time deposits, money market mutual funds, saving accounts |
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Term
| M3: M2 + Less Liquid Deposits |
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Definition
| Large time deposits and sizable money market finds by large institutions |
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Term
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Definition
| Credits are not money and are not included in M1, M2, or M3 when measuring the nation's money supply. |
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Term
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Definition
| Companies that accept deposits that they may use for to make loans, earn profits, pay interest to depositors, and pay dividends to owners. |
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Term
| Saving & Loan Association |
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Definition
| Accept deposits, amke loans, and are owned by investors. |
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Term
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Definition
| All depositors are owners of the bank, so all profits are divided proportionaly among depositor via dividends. |
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Term
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Definition
| A nonprofit, cooperative financial institution owned and run by its members; promotes thrift. |
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Term
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Definition
Unlike commerical banks, inflowing fund are intended for purposes other than earning interest for depositors.
Examples: Pension Funds, Insurance Companies, Finance Companies, & Securities investment dealers. |
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Term
| Federal Deposit Insurance Corporation |
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Definition
| Preserves confidence in the financial system by supervising banks and insuring deposits in banks and thrift institutions. |
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Term
| Characteristics of the Federal Deposit Insurance Corportation |
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Definition
Commerical banks pay fees for membership in the FDIC.
The FDIC guarentees the safety of all deposits up tp $100,000.
The FDIC maintains the right to examine the activities and accounts of all member banks. |
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Term
The Fed: The Nation's Central Bank
STRUCTURE |
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Definition
Board of governors.
Reserve banks.
Member banks. |
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Term
The Fed: The Nation's Central Bank
FUNCTIONS |
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Definition
Banking for the government.
Banking for banks.
Controlling the money supply. |
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Term
The Fed: The Nation's Central Bank
FUNCTIONS |
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Definition
Banking for the government.
Banking for banks.
Controlling the money supply. |
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Term
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Definition
| The Fed manages the nations's economic growth by managing money supply and interest rates. |
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Term
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Definition
Reserve requirements.
Discount rate controls.
Open market operations.
Selective credit controls. |
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Term
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Definition
Reserve requirements.
Discount rate controls.
Open market operations.
Selective credit controls. |
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Term
| Anti-terrorism Regulations |
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Definition
Bank Secrecy Act
USA Patriot Act...customer id program.
Debit Cards...allows the transfer of money between accounts & used with point-of-scale terminals. |
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Term
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Definition
| Credit cards size plastic cards with an embedded computer chip that can be programmed with "electronic money" |
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Term
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Definition
| Money that moves via digital transmissions on the Internet, outside established network of banks, checks, and paper currency overseen by the Fed. |
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Term
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Definition
| Allows bank to preent a substitute check for payment instead of the original check. |
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Term
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Definition
| A "contactless" payment system. |
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Term
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Definition
Allow the transfer of money between accounts.
Used with the point-of-scale terminals. |
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Term
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Definition
| Provides a limited scope of financial institutions. |
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Term
| Interantion Monetary Fund |
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Definition
Provides the stability of exchange rates.
Provides temporary, short term laons to member countries.
Encourages members to cooperate on international monetary issues and developement of a system for international payments. |
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