BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a function of the Federal Reserve?
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levying a high tax on state bank notes
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conducting bank examinations
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handling the government’s central banking function
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determining whether banks can borrow money from the Federal Reserve
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Explanation:
Detailed explanation-1: -Answer and Explanation: The Fed does not provide banking services to consumers. It is tasked with oversight over the banking sector, regulating the money supply in the economy and implementing monetary policies.
Detailed explanation-2: -Issuing of coins is not a function of the Central Bank.
Detailed explanation-3: -The Federal Reserve advances supervision, community reinvestment, and research to improve understanding of the impacts of financial services policies and practices on consumers and communities.
There is 1 question to complete.