The Fed
A) can examine the books of a member bank without warning.
B) can examine the books of a member bank after giving advance notice.
C) can examine the books of a member bank with the bank's permission.
D) is never allowed to see the books of a privately owned bank.

Question

Quizplus · Accepted Answer

The Federal Reserve has the authority to examine the books of its member banks without prior warning. This is part of its regulatory and oversight functions to ensure the safety and soundness of the banking system.