Criminal Code 301

question 167

True/False

Criminal Code 301.2(1)makes it a federal crime in the United States to knowingly and with intent fraudulently gain unauthorized access to data stored in financial institution computers.

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Definitions:

Excess Reserves

The capital reserves held by banks over and above the minimum required by regulators, available for lending or investing.

Required Reserves

The minimum amount of reserves that a bank must hold, as mandated by the central bank, against its deposit liabilities.

Reserve Requirement

The mandatory percentage of deposits that banks must hold in reserve, either in their vaults or at the central bank, not available for lending.

Government Bond

A debt security issued by a government to support government spending and obligations, typically offering a fixed rate of return.