Key Terms Instructions: Please Define the Following Key Terms

question 55

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
William Wordsworth

---

Definitions:

Depositary Bank

A financial institution that holds assets or securities for safekeeping on behalf of depositors.

Federal Reserve Bank

A part of the Federal Reserve System, which is the central banking system of the United States, responsible for implementing the country's monetary policy.

Recurring Charge

A recurring charge is a periodic fee charged automatically to an account for ongoing services or subscriptions.

Automatic Payment

A pre-arranged system of paying recurring bills or obligations electronically without the need for manual intervention each time.