Start Your Own Bank

Please choose the most appropriate answer for each sentence.
  • 1

    The goal of the state of California is to maintain a sound banking system without ..... limiting the entry of new banks.

  • 2

    A competitive financial environment provides ..... choice to the public and stimulates economic development and efficiency.

  • 3

    The state chartering agency makes sure that a new bank possesses the needed capital and management ..... to serve the public's needs.

  • 4

    This agency is the bank's primary ....., with the duty to protect the public from questionable banking practices.

  • 5

    The term "dual banking system" means that both the California and the US governments ..... bank charters.

  • 6

    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.

  • 7

    Joining the Federal Reserve System is required for national banks, but ..... for state banks.

  • 8

    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.

  • 9

    The minimum amount of ..... capital for a newly chartered bank should total at least $2,500,000 in capital stock.

  • 10

    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.

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