BANKING GENERAL KNOWLEDGE
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[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
Detailed explanation-2: -National banks must be members of the Federal Reserve System; however, they are regulated by the Office of the Comptroller of the Currency (OCC). The Federal Reserve supervises and regulates many large banking institutions because it is the federal regulator for bank holding companies (BHCs).
Detailed explanation-3: -The Federal Reserve System is the central bank and monetary authority of the United States. The Fed provides the country with a safe, flexible, and stable monetary and financial system.
Detailed explanation-4: -Which of the following is true of the Federal Reserve System? It is the central bank of the United States, It is responsible for setting monetary policy, It is responsible for regulating the banking system. (All of the choices are correct.)