The Legislation That Made All Depository Institutions Regardless of Federal

question 67

Multiple Choice

The legislation that made all depository institutions regardless of Federal Reserve membership subject to the reserve requirements established by the Fed is called the:

• A)Glass-Steagall Act.
• B)McFadden Act.
• C)Monetary Control Act of 1980.
• D)none of the above

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Definitions:

Senate

The upper chamber of the United States Congress, consisting of two senators from each state, responsible for making and passing federal laws.

Executive Agreement

An agreement made between the President and a foreign government that is less formal than a treaty and does not require Senate ratification.

Advice And Consent

A constitutional power given to the U.S. Senate to ratify treaties and approve presidential appointments to the executive and judicial branches.

President

The head of state and head of government in a republic, particularly referring to the chief executive of the United States.