Question

2: bank subject to reserve requirements set by the federal reserve system include a: only nationally chartered banks b: only banks with assets less than $100 million c: only banks with assets less than $500 million d: all banks whether or not they are members of the federal reserve system

3: which of the following is functions is NOT performed by any of the twelve regional federal reserve banks? a: check clearing   b: conducting economic research    c: setting interest rates payable on time deposits d: issuing the new currency

4: which of the following is an entity of the federal reserve system a: the U.S Treasury Secretary b: the FOMC C: the comptroller of the currency d: the FDIC

5: members of the board of governors are a: chosen by the federal reserve bank presidents b: appointed by the newly elected president of the united states, as are cabinet positions   c: appointed by the president of the united states and confirmed by the senate d: never allowed to serve more than 7-year terms

6: the majority of members of the federal open market committee are a: federal reserve bank presidents

Answer 1

Q-2)

d) All banks whether or not they are members of the federal reserve system

All banking institution who are authorized to take deposit from retail are subject to the reserve requirement by the federal reserve.

Q-3)

setting interest rates payable on time deposits

Check clearing on behalf of government, economic research and issuing or printing of new currency are done by these banks in consultation with the federal reserve but not setting of the interest rates payable on time deposits.

Q-4)

The FOMC

The federal open market committee is a part of the federal reserve system. US treasury, the comptroller of the currency, the FDIC are normally controlled directly or indirectly the US central government