Suppose That from a New Checkable Deposit,First National Bank Holds

question 91

Multiple Choice

Suppose that from a new checkable deposit,First National Bank holds two million dollars in vault cash,eight million dollars on deposit with the Federal Reserve,and nine million dollars in excess reserves. Given this information,we can say First National Bank faces a required reserve ratio of ________ percent.

• A)ten
• B)twenty
• C)eighty
• D)ninety

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Definitions:

Fraud

Fraud is a deliberate deception practiced to secure unfair or unlawful gain, often at the expense of others.

Credit Card Fraud Act

Legislation that defines credit card fraud and establishes related penalties for such crimes.

Criminal Penalties

Sanctions or punishments imposed by law for committing a criminal offense, such as fines or imprisonment.

Rescind

To revoke, cancel, or repeal a law, order, or agreement.