As a ʺcentral bank,ʺ which of the following is true regarding the Fed?
I. The Fed is a public authority that regulates the nationʹs banks.
II. The Fed is not allowed to provide services to commercial banks like Citibank.
III. The Fed is required to provide banking services to private citizens.
A) I
B) I and III
C) I and II
D) II

Question

Quizplus · Accepted Answer

The Fed is a public authority that regulates the nation's banks, but it is not required to provide banking services to private citizens. Additionally, the Fed is allowed to provide discount window lending services to commercial banks like Citibank.

As a ʺCentral Bank,ʺ Which of the Following Is True