6 of 196 of 19 Items
Question
Which of the following is a result of the Banking Act of 1935?(1 point)
Responses
The United States dollar can be exchanged for a fixed quantity of gold.
The United States dollar can be exchanged for a fixed quantity of gold.
Banks are required to keep the full amount of every deposit made in their vaults.
Banks are required to keep the full amount of every deposit made in their vaults.
Commercial and investment banking practices are strictly separated by law.
Commercial and investment banking practices are strictly separated by law.
Depositor funds are insured against potential loss in the event of a bank failure.
1 answer
The correct response is:
Depositor funds are insured against potential loss in the event of a bank failure.
The Banking Act of 1935, also known as the Banking Act of 1935 (US), is significant for reinforcing the regulatory framework of US banking and establishing the Federal Deposit Insurance Corporation (FDIC), which insures depositor funds.
1 answer
1 answer
1 answer
1 answer