A system of
exchange in which goods or services are traded directly for
other goods and for services&-without using money.
Anything used
by a society to purchase products, services, or resources.
Anything that
is accepted as payment for products, services, and resources.
A single
standard or "yardstick" that is used to assign values
to, and compare the values of, products, services, and
resources.
A means for
retaining and accumulating wealth.
An amount that
is on deposit in a checking account.
An amount that
is on deposit in an interest&-bearing savings account.
A profit&-making
organization that accepts deposits, makes loans, and provides
related services to its customers.
A commercial
bank that is chartered by the U.S. Comptroller of the Currency.
A commercial
bank that is chartered by the banking authorities in the state
in which it operates.
A financial
institution that primarily accepts savings deposits and provides
home&-mortgage loans.
An interest&-bearing
checking account; NOW stands for Negotiable Order of Withdrawal.
A financial
institution that accepts deposits from, and lends money to, only
those people who are its members.
A bank that is
owned by its depositors.
A written
order for a bank or other financial institution to pay a stated
dollar amount to the business or person indicated on the face of
the check.
A document
stating that the bank will pay the depositor a guaranteed
interest rate for money left on deposit for a specified period
of time.
A loan that is
approved before the money is actually needed.
A guaranteed
line of credit.
Real or
personal property that a firm or individual owns and that is
pledged as security for a loan.
System a means
for performing financial transactions through a computer
terminal or telephone hookup.
The government
agency responsible for regulating the United States banking
industry.
The percentage
of its deposits that a bank must retain, either in its own vault
or on deposit with its Federal Reserve district bank.
The interest
rate that the Federal Reserve System charges for loans to member
banks.
The buying and
selling of U.S. government securities by the Federal Reserve
System for the purpose of controlling the supply of money.
Immediate
purchasing power that is exchanged for a promise to repay it,
with or without interest, at a later date.
