Chapter 12 Money and Banking

2. record of the money deposited or withdrawn from a bank
4. used for storing money in the short term
7. secure box in a bank vault used for safe storage of valuables
10. a firm that manages money
12. used for storing money over a longer period of time
13. property or goods pledged by a borrower to use as security on a loan
15. coins, currency, check and debit cards that society uses
16. not-for-profit bank set up by organizations for their customers
17. electronic transfer of payment directly from payer's account to the payee's
19. central bank of the US, bankers bank, monitors money supply
21. there are 12 of these in the federal reserve

1. hold customers' funds in interest bearing account and invest mainly in mortgage loans
3. primary way banks make profit
5. trading goods and services directly for other goods or services
6. standard of value and means of payment
8. allows money to transfer from one account to another through computers
9. rate the bank pays customers for keeping their money
11. banks that are "full service" and serve individuals and businesses
14. an agreement which the borrower gives a lender the right to take the property if loan is not repayed
18. money taken out of a bank account
20. funds set aside for emergencies