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