Examlex
Which of the following statements is true?
Excess Reserves
Funds held by banks over and above the legally mandated reserve requirement.
Required Reserves
The minimum amount of funds that a bank is required by regulation to hold in reserve against deposits made by customers.
Total Reserves
The amount of funds that a bank or financial institution has in its vault or with the central bank, available to meet any withdrawal or payment demands.
Debit Cards
Payment cards that deduct money directly from a consumer's checking account to pay for a purchase.
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