This preview shows page 1. Sign up to view the full content.
Unformatted text preview: Debit Card: a card that looks like a credit card but works like a check; using it results in a direct, immediate, electronic payment from the cardholders checking account to a merchant or third party Federal Reserve Board: an independent agency of the federal government established in 1913 to regulate the nations banking and financial industry Monetary Policy: means by which the Fed controls the amount of money available in the economy Open Market Operations: decisions to buy or sell U.S. Treasury bills (short-term debt issued by the U.S. government) and other investments in the open market Reserve Requirement: the percentage of deposits that banking institutions must hold in reserve...
View Full Document
This note was uploaded on 03/17/2009 for the course BCOR 1010 taught by Professor Latier,jef during the Fall '07 term at Colorado.
- Fall '07