ECONOMICS
SAVING AND INVESTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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control the amount of money and credit available to the public
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offer discount bonds for 50% of the face value
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insure member depository institutions against loss.
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provide the system for cashing checks and electronic transactions
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Detailed explanation-1: -Federal Deposit Insurance Corporation (FDIC), a U.S. government agency created under the Banking Act of 1933 (also known as the Glass-Steagall Act). The primary role of the FDIC is to insure and protect bank depositors’ funds against loss in the event of a bank failure.
Detailed explanation-2: -The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
Detailed explanation-3: -The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure. Each depositor is insured to at least $250, 000 per insured bank. FDIC deposit insurance covers all types of deposits held at an insured bank.
Detailed explanation-4: -The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices.
Detailed explanation-5: -Answer and Explanation: The correct option is b. The FDIC has issued policy statements that address auditor independence in various contexts.