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Federal Reserve System

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Q: Which of these acts as bank for other banks?
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Why did the banking system established by the National Bank Acts have problems with liquidity?

too much money had been loaned to other customers.

What did Jackson try to do after his reelection in 1832?

tried to replace bank notes with hard money withdrew funds from the Bank of the United States and put them in state banks

What did supporters and opponents of the second Bank believe?

Supports: the Second Bank earned strong support from business people, because they liked the fact that the bank made loans to businesses. moreover the bank was a safe place for the federal goverment to keep its money, and the stable money it issued formed a stable currency Opponents: the opponents of the Second Bank disliked the way the bank loans made by state banks (fearing that the state banks where making to many loans) Bank directors often limited the amount of money banks could lend, this angered farmers and merchants that wanted to buy land. The most powerful enemy of the bank at that time was Andrew Jackson (the seventh president of the united states) According to Jackson,"the bank allowed a small group of wealthy people to enrich themselves at the expense of ordinary people"

How many banks did baby face nelson rob?

Baby Face Nelson robbed 4 banks. They were as follows:a bank in Grand Haven, Michigan - failedthe Security National Bank in Sioux Falls, South Dakota - netted around $49,000the First National Bank in Mason City, Iowa - netted $52,000the Merchant National Bank in South Bend, Indiana - netted $28,000I hope I answered the question. Thanks :D

Why were there widespread bank closures in 1929?

The main reason that the banks closed, was because of "a run on the banks." This was people who would rush to the bank, to take their money out. Also, because of bad regulation of the federal government, the banks were in terrible shape. In 1933, after Franklin D. Roosevelt, took over the office of President of the United States, he went to work on the "New Deal," he promised to the country. President Roosevelt's first task was to reopen the banks. He first closed every bank in the country by declaring a nationwide "bank holiday." He then authorized the treasury to supervise the reopening of only those banks which were financially sound. He went on the radio in a Fireside Chat to explain the government's movements and plead for confidence. Within days many of the banks were open, and depositors returned with their funds. By April confidence was restored and the crisis ended. To prevent a recurrence of the panic, Congress created the Federal Deposit Insurance Corporation (FDIC). People no longer needed to fear bank failures, for the government guaranteed that their funds were protected.

Related questions

The acts as a bank for other banks?

Federal Insurance Corporation

What banks acts as a bank for other banks?

It varies from country to country. Every country has a central bank that is the bank for other banks in the country. Ex: Federal reserve system - USA Reserve Bank - India etc

What happens to your money in the bank?

your money is problably not kept in the bank but its loaned to other banks and other banks loan to your bank

Is central bank a bank as other banks?


What is inter bank lending?

Banks lending money to other banks.

Which is known as bank of bank?

Usually the central bank of a country is called the bank of banks or the banker of banks. When normal banks have a shortage of cash or need some funds or guidance, they go to the central bank. That is why they are called so. In india, the Reserve Bank of India is the bank of all other banks in India.

Rate chase bank against other banks?

Chase Bank is one of the largest banks in the U.S. with trillions of dollars on deposit.

What do you mean by reverse repo according to bank?

When banks have any shortage of funds, they can borrow it from Reserve Bank of India or from other banks. The rate at which the RBI lends money to commercial banks is called repo rate. The Reserve Bank parks its money with other banks at the reverse repo rate.

Differences between functions of the central bank and commercial bank?

central bank does not accept deposit from customers whiles commercial bank does. central bank is responsible for issuing of currencies whiles commercial bank does not. central bank is accountable to the government whiles commercial bank is accountable to the share holders. central bank is not set up for profit but commercial bank is set up for profit. central bank is governed by an act of parliament whiles commercial bank is set up by an incorporation. central bank formulate monetary policies whiles commercial bank does not.

Definition of apex bank in term of India?

Apex Banks are those banks in India which controls the other bank in india. It is RBI in India.

How central bank of nigeria controls other commercial banks?

central bank control other bank by giving them loan and it debited their account.

How does GMAC bank compare to other banking companies?

GMAC bank which is now Ally bank is somewhat like other banks companies, Ally's bank (GMAC bank) is quick and easy. Unlike other banks they perform a credit check, no fees for linked accounts, and no account maintenance fees.