As a "central bank," which of the following is true regarding the Fed?
I. The Fed is a public authority that regulates the nation's 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.

Question

Quizplus · Accepted Answer

I is true as the Fed is responsible for regulating and supervising the nation's banks. 
II is false as the Federal Reserve System provides a range of services to commercial banks, including lending and deposit services. 
III is false as the Fed is not required to provide banking services to private citizens.

As a "Central Bank," Which of the Following Is True