Which of the following is true?
A) The FDIC sets the reserve requirements for commercial banks.
B) The Federal Reserve System guarantees the deposits in almost all banks up to a limit of $1,000,000 (extended to $2,500,000 through 2013) per account.
C) Since the Federal Reserve System was established in 1913, bank failures due to panic withdrawals have been virtually eliminated.
D) If a bank should fail, the FDIC guarantees that depositors can get their funds up to a limit of $100,000 (extended to $250,000 through 2103) per account.
Correct Answer:
Verified
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