The Interstate Banking and Branching Efficiency Act (IBBEA) Was Designed

question 18

Multiple Choice

The Interstate Banking and Branching Efficiency Act (IBBEA) was designed to

• A)allow state-chartered banks to join the FDIC.
• B)allow state-chartered banks to join the Fed.
• C)allow unrestrained nationwide branching of banks.
• D)allow intrastate branching for all national banks.

---

Definitions:

Par Value

The face value of a bond or stock as stated by the issuer, which bears importance in the legal capital of a company.

Land

A physical, immovable property asset, representing the earth's surface not including bodies of water or resources below the surface.

Cash Dividend

A distribution of profits by a corporation to its shareholders in the form of cash.

Stock Dividend

A dividend payment made to shareholders in the form of additional shares of stock, rather than cash.