Across
- 2. (FDIC)- US government institution that provides deposit insurance on the depositor’s account
- 4. person who owns a share or shares of stock in a corporation; same as a stockholder
- 5. account whose funds can be removed from a bank or financial institution by writing a check or using a debit card.
- 7. money or other substance generally accepted as payment for goods and services; one of the three functions of money
- 10. bank that receives its charter from the state in which it operates.
- 15. standard unit of currency in a country’s money supply; American dollar, British pound.
- 16. coins, currency, checks, traveler’s checks, or DDAs
- 18. a bank that can lend to other banks in times of need or a “banker’s bank.”
- 19. for of business organization recognized by law as a separate legal entity with all the rights and responsibilities of an individual, including the right to buy and sell property, enter into legal contracts, sue and be sued.
- 20. receipt showing that an investor has made an interest-bearing loan to a financial institution
- 23. sudden rush by depositors to withdraw all deposited funds, generally in anticipation of bank failure or closure.
- 24. saving deposits, time deposits, money market funds
- 25. bank that receives its charter from the state in which it operates.
- 27. formula used to compute the amount of a depository institution’s required reserves
- 29. nonprofit service cooperative that accepts deposits, makes loans, and provides other financial services.
- 30. currency that must be accepted for payment by decree of the government
- 31. paper currency backed by gold; issued in 1863 until recalled in 1934.
Down
- 1. paper currency backed by silver; issued from 1878 to 1968.
- 3. moneyless economy that relies on trade or barter
- 6. commercial bank chartered by the National Banking System
- 8. currency backed by government bonds and issued by commercial banks in the National Banking System
- 9. money by government decree; has no alternative value or use as a commodity.
- 11. certificate of ownership in a corporation or preferred stock.
- 12. money that has an alternative use as an economic good; gunpowder, flour, corn, etc.
- 13. a system in which the basic unit of currency is equivalent to and can be exchanged for a specific amount of gold.
- 14. allows people to preserve value for future use.
- 17. paper currency issued by the Fed that eventually replaced all other types of federal currency.
- 21. privately owned, publicly controlled, central bank of the United States
- 22. money in the form of gold or silver
- 26. brief period during which all banks or depository institutions are closed to prevent bank runs.
- 28. allows money to serve as a common denominator to measure value.