Ch 10-2 Vocab

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Across
  1. 2. run:sudden rush by depositors to withdraw all deposited funds generally in anticipation of bank failure or closure.
  2. 3. Bank holiday: Brief period during which all banks or depository institutions are closed to prevent bank runs.
  3. 5. Certificates:Paper currency backed, and redeemable for, silver from 1878 to 1968.
  4. 8. bank
  5. 9. at the beginning.
  6. 11. standard:A system in which the basic unit of currency is equivalent to, and can be exchanged for, a specific amount of gold.
  7. 12. currency:Currency backed by government bonds and issued by commercial banks in the national banking system.
Down
  1. 1. a stipulation, usually in a legal document
  2. 2. bank: A bank that can lend to other banks in times of need, or a bankers bank.
  3. 4. tender:currency that must be accepted for payment by decree of government.
  4. 6. certificates:Paper currency backed by gold;issued in 1863 and popular until recalled in 1934.
  5. 7. Deposit Insurance Corporation(FDIC):The United States government institution that provides deposit insurance on the depositors account.
  6. 10. commercial bank chartered by the National banking system.