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Unformatted text preview: upon restrictive lending practices, similar to credit unions, while banks loan to nearly all for increased interest rates. 3. What roles do the FDIC and SAIF play? The FDIC, or Federal Insurance Deposit Corporation, is an independent government agency that insures bank deposits up to $250,000. They do this to build confidence in the banking institutions. The SAIF is the part of the FDIC that covers the holders of accounts in savings and loan institutions. This again builds confidence in the money industry. 4. What are the roles of the World Bank and the International Monetary Fund? The World Bank is responsible for financing economic development. The World Bank is also known as the International Bank for Reconstruction and Development. The international monetary fund is the organization that is responsible for the smooth transactions that occur between nations. Without them, chaos would be a regular occurrence....
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- Spring '10