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12 Cards in this Set
- Front
- Back
Bank holding company
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a holding company owning or controlling one or more banks.
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Legal reserves
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consists of coins and currencies that banks hold in there vault
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state bank
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A bank chartered by a state government
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Member bank reserves
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a deposit that a member bank keeps at the Fed to satisfy reserve requirement
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Discount rate
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The minimum interest rate set by the Federal Reserve for lending to other banks.
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Reserve requirement
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The reserve requirement (or cash reserve ratio) is a central bank regulation that sets the minimum fraction of customer deposits and notes that each commercial bank must hold as reserves (rather than lend out).
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Silver certificate
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Paper currency backed by silver
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Fiat money
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legal form of currency by government decree
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Medium of exchange
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anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region.
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Federal Reserve Notes
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a piece of paper money (especially one issued by a central bank)
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Barter economy
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Barter is a system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.
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Legal Tender
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Coins or banknotes that must be accepted if offered in payment of a debt.
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