Membership in the Federal Reserve System
A) is held by state-owned banks only.
B) is held collectively by all banks in the banking system.
C) is held by only a minority of banks in the banking system.
D) is held by banks that also have branches outside the United States.

Question

Quizplus · Accepted Answer

Membership in the Federal Reserve System is optional and not all banks choose to become members. Therefore, only a minority of banks in the banking system hold membership in the Federal Reserve System.