Which federal agency has authority over the credit rates and lending activities of the nation's most important banks?

Question

Quizplus · Accepted Answer

The Federal Reserve System is responsible for overseeing the credit rates and lending activities of the nation's most important banks. This includes setting interest rates and regulating the money supply to promote stability in the financial system. The Treasury Department is responsible for managing the nation's finances and issuing debt, but it does not have direct authority over bank lending. The Internal Revenue Service is responsible for collecting taxes, and the Securities and Exchange Commission regulates securities transactions, but neither agency has direct oversight of bank lending activities. The Department of the Interior is responsible for managing the nation's natural resources and cultural heritage, and has no authority over banking activities.

Which Federal Agency Has Authority Over the Credit Rates and Lending