Responses
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.
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.
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 strengthened the Federal Reserve's control over the monetary system and established the Federal Deposit Insurance Corporation (FDIC), which provides insurance for depositors' funds.
