THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Built trust in banks by insuring accounts up to $250, 000
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Stimulus Package for the agriculture industry
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Increased profits for the banks
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Built trust in banks by insuring accounts up to $5, 000,
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Detailed explanation-1: -The FDIC protects the money depositors place in insured banks in the unlikely event of an insured-bank failure.
Detailed explanation-2: -About the FDIC 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 depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. Any person or entity can have FDIC insurance coverage in an insured bank. A person does not have to be a U.S. citizen or resident to have his or her deposits insured by the FDIC.
Detailed explanation-4: -The Federal Deposit Insurance Corporation has served as an integral part of the nation’s financial system for 50 years. Established by the Banking Act of 1933 at the depth of the most severe banking crisis in the nation’s history, its immediate contribution was the restoration of public confidence in banks.
Detailed explanation-5: -FDIC does not consider nondeposit assets in calculating deposit insurance coverage. In general, the owner of a revocable trust account is insured up to $250, 000 per each primary beneficiary. The exact amount of coverage depends on the number of beneficiaries.