What 2 federal agencies are responsible for supervising and regulating depository institutions that are not commercial banks?
(Chapter 4, Question #11, Answer on Page 97) 1. The National Credit Union Administration (NCUA) supervises and regulates credit unions. 2. The Office of Thrift Supervision (OTS) oversees S&Ls and other savings institutions. 36. Explain the process by which the Federal Reserve Banks provide the economy with currency and coin. (Chapter 4, Question #13, Answer on Page 99) The Federal Reserve Banks maintain large amounts of both paper money and coin in their vaults at all times. Member banks obtain currency and coin by having their deposits with their Federal Reserve Bank charged. Nonmember banks obtain money in the same way or through member banks. Although the Federal Reserve Banks issue their own currency, they obtain coin from the United States Treasury. 37. What is the special role of the Federal Reserve Interdistrict Settlement Fund in the check- clearance process? (Chapter 4, Question #15, Answer on Page 100) The Interdistrict Settlement Fund holds substantial deposits from each Fed
