Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
18Activity
0 of .
Results for:
No results containing your search query
P. 1
Banking+Basics

Banking+Basics

Ratings:

4.84

(1)
|Views: 900|Likes:
Published by Konrad
Banking basics taught by the Federal Reserve Bank of Boston
Banking basics taught by the Federal Reserve Bank of Boston

More info:

Categories:Types, Brochures
Published by: Konrad on Aug 23, 2008
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

05/09/2014

pdf

text

original

 
BaningBasics
Federal Reserve Bank of Boston
 
Introduction
88888888888888888888888888888888888888888888888888888888888888888888888888888888888888888 
2
 What is a bank?
8888888888888888888888888888888888888888888888888888888888888888888888888888888888888 
3
How do people start banks?
88888888888888888888888888888888888888888888888888888888888888888888888 
4
How did banking begin?
888888888888888888888888888888888888888888888888888888888888888888888888888 
 Why are there so many different types of banks?
8888888888888888888888888888888888888888888888 
How do I choose a bank?
88888888888888888888888888888888888888888888888888888888888888888888888888 
8
 What types of accounts do banks offer?
8888888888888888888888888888888888888888888888888888888 
9
Is it difficult to open an account?
888888888888888888888888888888888888888888888888888888888888888 
11
 What happens to your money after you deposit it in your bank account?
888888888888888 
12
 What happens when someone applies for a loan?
8888888888888888888888888888888888888888888 
14
 What are checks, and how do they work?
88888888888888888888888888888888888888888888888888888 
16
Tracing a check through the Federal Reserve’s Check Collection Network
888888888888888 
17 
 What do people mean when they talk about “electronic banking”?
8888888888888888888888 
18
Do banks keep large amounts of gold and silver in their vaults?
8888888888888888888888888 
20
 Why do banks fail, and what happens when they do?
88888888888888888888888888888888888888 
22
Do depositors lose their money when a bank fails?
8888888888888888888888888888888888888888 
24
Do depositors lose money if their bank is robbed?
888888888888888888888888888888888888888888 
2
 What is the Federal Reserve and how does it fit into the U.S. banking system?
88888888 
26
o
1
0
Table of Contents
 
o
2
0
S
ome young savers stash their cash in old coffee cans, shoe boxes, or jelly  jars. Others use “piggy banks,” which today more likely resemble spacecraft or cartooncharacters.In any case, the same problem arises. Sooner or later, the piggy bank or jelly jar fillsto capacity, and the saver must make a decision: Should I spend the money or shouldI continue to save? And if I continue to save, should I open a bank account or simply find a bigger jar?Perhaps you have had to face such a decision yourself. If you decide to keep your money at home, it will not earn any interest. You also run the risk that a burglar, a fire, or someother disaster will wipe out your life savings in the wink of an eye.Then again, if you open a bank account, you cannot “visit” your money as easily as youcan when it sits in your dresser drawer. You cannot just walk into a bank in the middleof the night to count your cash. You cannot run the coins through your fingers or tossthe bills in the air and let them rain down on your head.Opening a bank account is a big step because you are putting your money in someoneelse’s hands. You are counting on someone else to handle your money responsibly.Before you do that, it might be a good idea to understand how a bank operates.This pamphlet will not tell you everything about banks and banking, but it will answermany of the most common questions.
Introduction

Activity (18)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
bondrun007 liked this
munnagnekar liked this
SakthivIgneswar liked this
Murali Krishnan liked this
munnagnekar liked this
edbern20005873 liked this
rashvrush liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->