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Chartered banks can be different from one country to the next. They are used by people and companies to keep their money safe and are chartered by the Federal Government.
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State bank charter?
Good info here: http://en.wikipedia.org/wiki/State_bank Basic benefits of a state charter over national charter: bank can lend a higher percentage of it's capital doesn't have to be in the federal reserve system easier and cheaper to get and maintain a state charter asses to services that may not be available to national banks like real estate brokerage
When does the federal reserve charter expire?
The Federal Reserve Charter does not contain an expiration date for various reasons. However, the charter is subject to revocation by Congress.
How does the economy affect banks?
Commercial banks - NO. National banks - YES.
What are the classification of banks?
Banks can be broadly classified into many categories based on the functions they perform and based on the services they offer. Some of the types of banks are: 1. Commercial/Retail Banks 2. Private Banks 3. Investment Banks 4. Rural Banks 5. Co-operative Banks 6. Industrial Banks 7. Etc.
What are the four primary functions of the federal reserve?
Early American Banking: 1791-1863Banking in the America of 1863 was far from easy or dependable. The First Bank (1791-1811) and Second Bank (1816-1836) of the United States were the only official representatives of the U.S. Treasury - the only sources that issued and backed official U.S. money. All other banks were operated under state charter, or by private parties. Each bank issued its own individual, "banknotes." All of the state and private banks competed with each other and the two U.S. Banks to make sure that their notes were redeemable for full face value. As you traveled around the country, you never knew exactly what kind of money you would get from the local banks. With America's population growing is size, mobility, and economic activity, this multiplicity of banks and kinds of money soon grew chaotic. The National Banks: 1863-1913In 1863, Congress passed the first National Bank Act providing for a supervised system of "National Banks." The Act setup operational standards for the banks, established minimum amounts of capital to be held by the banks, and defined how the banks were to make and administer loans. In addition, the Act imposed a 10 percent tax on state banknotes, thus effectively eliminating non-federal currency from circulation
Is the power to charter banks a concurrent power?
Concurrent power
What is charter party bill of lading?
The Charter party is a contract between the merchant and the ship owner. The charter party bill of lading is not accepted by banks unless it is an authorized line of credit.
What do state commercial banks do?
Commercial banks, which are organized primarily to conduct general banking business, are most often state or national banks. State banks are organized under a charter granted by the state government
What power can charter banks Reserved powers delegated powers or concurrent powers?
Concurrent, I believe.
Why did Andrew Jackson take away the federal charter?
he was not in favor of banks he knew they would bring trouble... he set up state banks that were called "pet banks" these later resulted in Panic of 1837
When President Jackson did not renew the charter for the Bank of the US the responsibility of money lending fell to?
When President Jackson did not renew the charter for the Bank of the US the government stated putting money in state banks. Money lending fell on these banks and four anti-bank resolutions were approved.
Is charter one online better than other online banks?
Charter One online bank is similar to other online banks in terms of rates offered on savings accounts and CD's. A good aggregator is Bankrate, as this site aggregates all online bank's data and rates.
Which of these are the states not allowed to do print money enforce laws charter banks tax?
Print Money A+ -Chantel Lucero
What did Jackson do when the bill renew to renew the banks charter came to him for his signature?
He vetoed the bill and sent it back to Congress.
What was the effect of vetoing the of the charter renewal and deposit of federal funds in state banks?
this is a hard question. go figure it out!
How did Andrew Jackson react the congress request for renewing the bank?
He was very much against renewing he bank charter, so he moved all the federal money from the US banks to state banks.
What happened after congress renewed the charter for the banks of the US?
Andrew Jackson vetoed the bill renewing the charter. Jackson did not favor a strong centralized government, and aimed to prevent a central government-run bank as well.
