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|Metalic forms of money such as pennies and nickles.
|Includes both coins and paper money.
|Financial institutions that offer full banking services to individuals and businesses.
|SAVINGS AND LOAN ASSOCIATIONS (S&L)
|Financial institution that traditionally loaned money to people buying homes.
|Work on a not-for-profit basis.
|The Federal Reserve Systems, known as the Fed.
|FEDERAL OPEN MARKET COMMITTEE (FOMC)
|Makes the decisions that affect the economy as a whole.
|The controlling of the supply of money and the cost of borrowing money according to the needs of the economy.
|The rate the Fed charges member banks for loans.
|A certain percentage of deposits that banks have to set aside as cash in their own vaults or as deposits in their Federal Reserve district bank.
|OPEN MARKET OPERATIONS
|The purchase or sale of U.S governments bonds and treasuty bills.
|Allow costumers to write checks or to use check or debit cards.
|Banks pay interest to customers based on how much money they have deposited.
|CERTIFICATE OF DEPOSIT
|Requires a saver to deposit his or her funds for a certain period of time.