The Ability to Use the Too-Big-To-Fail Policy Was Curtailed by the Passage

question 26

Multiple Choice

The ability to use the too-big-to-fail policy was curtailed by the passage of the FDICIA. To use this action today,the FDIC must get approval of a two-thirds majority of both the Board of Governors of the Federal Reserve and the directors of the FDIC and also the approval of the

• A)Secretary of the Treasury.
• B)Senate Finance Committee Chairperson.
• C)President of the United States.
• D)governor of the state in which the failed bank is located.

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Definitions:

Mining Site

A location where extraction of minerals, metals, and other geological materials from the earth takes place.

Depletion Expense

The allocation of the cost of natural resources over their productive life.

Residual Value

The estimated amount that an asset will realize upon its disposal at the end of its useful life, after deducting any potential costs of disposal.

Extracted Ore

Raw minerals taken from the ground, which may be processed to extract valuable metals or other resources.