ECONOMICS
FEDERAL RESERVE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
FOMC-Federal Open Market Committee
|
|
|
The 12 Reserve Banks
|
|
|
The Board of Governors
|
|
|
The FDIC-Federal Deposit Insurance Corporation
|
Detailed explanation-1: -Mutual funds, annuities, life insurance policies, stocks, and bonds are not covered by the FDIC.
Detailed explanation-2: -The FDIC is the federal regulator of the approximately 5, 000 state-chartered banks that do not belong to the Federal Reserve System.
Detailed explanation-3: -It is important to be aware that non-bank companies are never FDIC insured. Even if they partner with insured banks, money you send to a non-bank company is not FDIC insured unless, and until, the company deposits it in an insured bank.
Detailed explanation-4: -The FDIC does not insure share accounts at credit unions.
Detailed explanation-5: -Checking accounts. Negotiable Order of Withdrawal (NOW) accounts. Savings accounts. Money Market Deposit Accounts (MMDAs) Time deposits such as certificates of deposit (CDs) Cashier’s checks, money orders, and other official items issued by a bank. 13-Sept-2022