BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Federation of Banks, USA
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Citigroup, USA
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Bank of America
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Federal Reserve
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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: -Instead of a single central bank, the framers of the Federal Reserve Act provided for a central banking “system” with three main features: (1) a central governing Board, (2) a decentralized operating structure of regional reserve banks, and (3) a combination of public and private characteristics.
Detailed explanation-3: -The Federal Reserve System is the central bank of the United States.
Detailed explanation-4: -The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.