__________ Removed Many of the Regulations Established During the Great

question 46

Multiple Choice

__________ removed many of the regulations established during the Great Depression. It phased out Regulation Q interest rate ceilings, established uniform and universal reserve requirements, increased the assets and liabilities that depository institutions could hold, authorized NOW accounts, and suspended usury ceilings.

• A)the Glass-Steagall Act of 1933
• B)the Garn-St. Germain Depository Institutions Act of 1982.
• C)the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989
• D)the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).

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Definitions:

Insurable Interest

The requirement that a person stands to suffer a financial loss or certain other kinds of losses if the insured event occurs.

Retains

implies holding onto or keeping in possession, often used in legal and financial contexts to describe holding onto services, rights, or properties.

Shipment Contract

An agreement between a seller and buyer where the seller is obligated to ship the goods and the buyer is obligated to accept and pay for them, under specified terms.

Title Passes

The transfer of ownership of property from one party to another, typically upon satisfaction of specified conditions.