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REQUIRED RESERVES: The amount of vault cash and/or Federal Reserve deposits that a bank must legally keep to back outstanding deposits. These are the assets that bank regulators specify a bank must have to ensure the stability of deposits and conduct daily transactions.
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Lesson 20: Federal Reserve System | Unit 3: The Fed Pyramid
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Page: 10 of 20
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Commercial banks form the base of the Federal Reserve pyramid. Prior to the 1980's: - The Fed automatically included only national banks.
- State and local banks could chose to become members of the Fed.
- S&Ls, credit unions, and mutual savings banks didn't offer checking accounts and were not part of the system.
Legislation passed in the 1980's brought all checkable-deposit-issuing institutions into the Federal Reserve System. - The Federal Reserve pyramid rests on the non-bank public: households, businesses, and government agencies.
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TOTAL UTILITY CURVE A curve illustrating the relation between the total utility obtained from consuming a good and the quantity of the good consumed. The shape of the total utility curve, increasing at a decreasing rate, reflects the law of diminishing marginal utility. The reason for this is that slope of the total utility curve is marginal utility, meaning the total utility curve can be use to derive the marginal utility curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"You are never given a dream without also being given the power to make it true." -- Richard Bach, Author
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ABA
American Bankers Association, Associate in Business Administration
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