Under FDICIA, Who Would Have to Approve in Order for the Too-Big-To-Fail

question 71

Multiple Choice

Under FDICIA, who would have to approve in order for the too-big-to-fail policy to be implemented?

• A)The President of the United States
• B)A two-thirds majority in Congress
• C)Two-thirds of the FDIC's directors, the Fed's Board of Governors, and the Secretary of the Treasury
• D)The Federal Open Market Committee and the Comptroller of the Currency

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Definitions:

Bad Debt Expense

An expense account reflecting the cost of accounts receivable that a company does not expect to collect.

Promissory Note

A written, legally binding promise to pay a specified sum of money on a certain date or upon demand.

Face Amount

The nominal or dollar value printed on a financial instrument, such as a bond or life insurance policy, representing the amount due at maturity.

Maturity Value

The amount payable to an investor at the maturity date of an investment, including the principal and any remaining interest.