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