1) With the creation of the Federal Deposit Insurance Corporation, member banks of the Federal Reserve System ________ to purchase FDIC insurance for their depositors, while non member commercial banks ________ to buy deposit insurance.
A) could choose; were required
B) could choose; were given the option
C) were required, could choose
D) were required; were required
2) With the creation of the Federal Deposit Insurance Corporation,
A) member banks of the Federal Reserve System were given the option to purchase FDIC insurance for their depositors, while non member commercial banks were required to buy deposit insurance.
B) member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors, while non member commercial banks could choose to buy deposit insurance.
C) both member and non member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors.
D) both member and non member banks of the Federal Reserve System could choose, but were not required, to purchase FDIC insurance for their depositors.
3) The Glass Steagall Act, before its repeal in 1999, prohibited commercial banks from
A) issuing equity to finance bank expansion.
B) engaging in underwriting and dealing of corporate securities.
C) selling new issues of government securities.
D) purchasing any debt securities.