Chapter 24 Money and Banking Vocabulary

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Across
  1. 3. the controlling of the supply of money and the cost of borrowing money-credit-according to the needs of the economy.
  2. 5. is the rate the Fed charges member banks for loans.
  3. 8. is a metallic forms of money such as pennies and nickels.
  4. 10. are financial institutions that traditionally loaned money to people buying homes.
  5. 11. is the Federal Reserve System, known as the Fed. The Federal Reserve System is a banker’s bank. This is a place where banks go to if they need money.
  6. 13. includes both coins and paper money
  7. 14. requires a saver to deposit his or her funds for a certain period of time.
Down
  1. 1. are financial institutions that offer full banking services to individuals and businesses.
  2. 2. these are the purchases or sale of U.S. government bonds and Treasury bills.
  3. 4. member banks must keep a certain percentage of their money in Federal Reserve Banks as a reserve against their deposits.
  4. 6. allows customers to write checks or to use check or debit cards.
  5. 7. makes the decisions that affect the economy as a whole by manipulating, or controlling, the money supply.
  6. 9. banks pay interest to customers based on how much money they have deposited.
  7. 12. work on a not-for-profit basis.They are open only to members of the group that sponsors them, usually businesses, labor unions, and government institutions.