Match the Act on the Left to the Appropriate Explanation

question 58

Multiple Choice

Match the Act on the left to the appropriate explanation on the right.
-Data Protection Directive

• A)requires parental consent before collecting, using, or disclosing personal information of children under age 13
• B)protects privacy of American medical information
• C)details what personal information is collected and how it will be used
• D)adopted in 1998 establishing a high level of legal protection of personal data

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Definitions:

Reserves

Reserves refer to funds or other assets that banks or financial institutions hold to meet unexpected demands or regulatory requirements.

Required Reserve Ratio

A regulation set by central banks determining the minimum amount of reserves that banks must hold against deposits, affecting money supply.

Excess Reserves

The reserves that banks hold over and above the legal requirement; these are not loaned out and do not earn interest for the bank.

Required Reserves

The minimum amount of funds that a bank must hold in reserve against deposits, as mandated by the central bank.