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119
What were the two requirements for a commercial bank to join the Federal Reserve?
1) Must purchase stock in the a Federal district bank
2) Must deposit cash reserves in the district bank
Why? so Fed could serve as clearinghouse
2) Must deposit cash reserves in the district bank
Why? so Fed could serve as clearinghouse
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 12.10.2010