Explainthe financial services modernization ac

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Reference no: EM13177321

If the reserve requirement were cut in half, the banking system's ability to extend loans would be
a. increased by 50 percent
b. reduced by 100 percent
c. increased by 25 percent
d. nearly doubled

If one city has a higher CPI than another city, the city with the higher CPI must have a higher cost of living.
True
False

The Financial Services Modernization Act
a. reinforced the Glass Steagall Act
b. prevented mergers of banks
c. eliminated barriers between banks, brokerage houses, and insurance companies
d. eliminated all banking regulations

Within certain limits, the reserve requirement for checkable deposits are established by
a. Congress
b. the U.S. President
c. each Federal Reserve Bank
d. the Board of Governors

Branch banking can now be carried our regionally and even nationally.
True
False

Reference no: EM13177321

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