Asked by Abigail Costiniano on Apr 30, 2024
Verified
To help facilitate the clearing of checks is one of the Federal Reserve's most important tasks.
Federal Reserve
The central banking system of the United States, which regulates the U.S. monetary and financial system.
Clearing of Checks
The process by which banks exchange checks or drafts drawn on each other and settle the differences to facilitate the actual transaction the check represents.
- Comprehend the roles and operations of financial institutions including banks, credit unions, and the Federal Reserve System.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
True
Explanation :
The Federal Reserve plays a crucial role in the nation's payment system, including the clearing of checks, by ensuring that financial transactions are conducted smoothly and efficiently.
Learning Objectives
- Comprehend the roles and operations of financial institutions including banks, credit unions, and the Federal Reserve System.
Related questions
Unfortunately,most Nations Do Not Have a Central Bank Similar to ...
All Federally Insured Commercial Banks Must Belong to the Federal ...
Banks in Other Nations Often Respond to Changes in the ...
When the Federal Reserve Board (The Fed)buys Securities,it Decreases the ...
Suppose the Federal Reserve Announces That It Will Be Making ...