Start Your Own Bank
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The goal of the state of California is to maintain a sound banking system without ..... limiting the entry of new banks.
A competitive financial environment provides ..... choice to the public and stimulates economic development and efficiency.
The state chartering agency makes sure that a new bank possesses the needed capital and management ..... to serve the public's needs.
This agency is the bank's primary ....., with the duty to protect the public from questionable banking practices.
The term "dual banking system" means that both the California and the US governments ..... bank charters.
The word "State" or "National" as part of a bank's name has nothing ..... where it operates; this refers to the type of charter it has.
Joining the Federal Reserve System is required for national banks, but ..... for state banks.
The FRS lends money to banks at a discount rate to help meet their short-term cash requirements, and is known as the lender of last ..... for banks suffering liquidity crises.
The minimum amount of ..... capital for a newly chartered bank should total at least $2,500,000 in capital stock.
California wishes to encourage a broad and ..... shareholder base for new banks, although the organizers may desire to limit this number due to tax or other considerations.
