A reserve account can be defined as:
A) the cash that a financial depository institution keeps in its vaults.
B) a deposit that a Federal Reserve Bank keeps with the U.S. Treasury.
C) the amount designated by a financial depository institution to cover bad checks, defaulted loans, and such.
D) a deposit in the name of a financial depository institution held at a Federal Reserve Bank or other designated place.
Correct Answer:
Verified
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