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Insures Deposits
A guarantee provided by government or private entities that deposits in banks are protected up to a certain limit in the event of a bank failure.
Commercial Banks
Commercial Banks are financial institutions that accept deposits, offer various banking services like loans and mortgages, and play a significant role in the financial system.
Great Depression
The Great Depression was a severe worldwide economic downturn that lasted from 1929 to the late 1930s, marked by massive unemployment, deflation, and widespread poverty, affecting many countries around the world.
Lender of Last Resort
A role usually performed by a central bank, providing funds to financial institutions facing financial difficulty to prevent systemic collapse.
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