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7 Cards in this Set

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fractional reserve banking
a system in which depository institutions hold reerves that are less than the amount of total deposits
reserves
in teh US federal reserve system, deposits held by federal reserve district bankds for depository institutions.
legal reserves
reserves that depository institutions are allowed by law to claim as reserves.
required reserves
the value of reserves that a depository institution must hold in the form of vault cash or deposits with the def
required reserve ratio
the percentage of total deposits that the Fed requires deportisstory institutions to hold in the form of vault cash or deposits with the fed
excess reserves
the difference between legal reserves and required reserves
open market operations
the purchase and sale of existing US government securities (such as bonds) in the open private market by the federal reserve system.