The Federal Reserve Act:
a. established a system which allowed for better regulation of financial intermediaries.
b. allowed only nationally-chartered banks to become members of the Federal Reserve system.
c. allowed the Fed District Banks to offer commercial loans to private businesses at reduced interest rates.
d. required that all Fed District Bank directors be associated with the commercial banking industry.
e. all of the above.
a. . established a system which allowed for better regulation of financial intermediaries.
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The interest rate that banks charge each other for short-term loans is the
a. discount rate b. prime rate c. treasury rate d. federal funds rate e. interbank rate