With the creation of the Federal Deposit Insurance Corporation
A. member banks of the Federal Reserve System were given the option to purchase FDIC insurance for their depositors, while non-member commercial banks were required to buy deposit insurance.
B. member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors, while non-member commercial banks could choose to buy deposit insurance.
C. both member and non-member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors.
D. both member and non-member banks of the Federal Reserve System could choose, but were not required, to purchase FDIC insurance for their depositors.
Answer:B
With the creation of the Federal Deposit Insurance Corporation
A. member banks of the Federal Reserve System were given the option to purchase FDIC insurance for their depositors, while non-member commercial banks were required to buy deposit insurance. B. member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors, while non-member commercial banks could choose to buy deposit insurance. C. both member and non-member banks of the Federal Reserve System were required to purchase FDIC insurance for their depositors. D. both member and non-member banks of the Federal Reserve System could choose, but were not required, to purchase FDIC insurance for their depositors.