Federal Reserve System
nations first true central bank
bank that can lend to other banks needs
Federal Reserve Note
paper currency issued by the Fed
Run on the Bank
rush by depositors making withdrawels before the bank failed
brief period which every in country is required to close
banks that catered to intrests of business and commerce
Demand Deposit Account (DDA)
accounts whose funds could be removed
accepted deposits of small investors
Mutual Savings Bank (MSB)
depositor-owned financial organization operated for the benefits of its depositors
no longer mutually owned
type of checkiing accounts that pay intrest
Savings and Loans Association (S&L)
invest majority into mortgages
Share Draft Account
intrest earning checking accounts
the removal or relaxation of government restriction on business
a person or institution to whom money is owed
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