The sum of the coins and currencies in the bank's vault and its deposit in the Fed is called:
A)vault cash.
B)transaction deposits.
C)legal reserves.
D)required reserves.
E)loanable funds.

Name: The sum of the coins and currencies in the bank's vault and its deposit in the Fed is called: A)vault cash. B)transaction deposits. C)legal reserves. D)required reserves. E)loanable funds.
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Question

Quizplus · Accepted Answer

Legal reserves refer to the sum of vault cash and the bank's deposit at the Federal Reserve.

The Sum of the Coins and Currencies in the Bank's