Which of the Following Was a Result of the Depository

question 268

Multiple Choice

Which of the following was a result of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) ?

• A)All checkable deposits,whether at commercial banks,savings banks,savings and loan associations,or credit unions will have the same reserve requirements.
• B)The Fed has the power to change the reserve requirement on checkable deposits at commercial banks but not credit unions.
• C)The Fed has the power to set the reserve requirement on checkable deposits at credit unions,but once set,the reserve requirement cannot be changed for two years.
• D)Commercial and savings banks are regulated by the Fed,but credit unions and state banks are not subject to regulations,but must pay dues to the FeD.
• E)Credit unions and state banks must abide by Fed reserve requirements,but are denied access to borrowing at the discount window.

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Definitions:

Sensorineural

Pertaining to or involving a sensory organ and its neural connections, often related to hearing loss.

Hearing Loss

The partial or total inability to hear sounds in one or both ears, which can be due to genetic causes, aging, exposure to noise, or other health conditions.

Distortion of Sound

A change in the tone or clarity of sound that results in it becoming unrecognizable or altered from its original quality.

Down Syndrome

A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by physical features and some degree of intellectual disability.