State-chartered banks:
A. automatically receive membership in the Federal Reserve System
B. are prohibited from membership in the Federal Reserve System
C. may be permitted to join the Federal Reserve system, given a satisfactory financial condition
D. none of the above
Answer:C
State-chartered banks:
A. automatically receive membership in the Federal Reserve System B. are prohibited from membership in the Federal Reserve System C. may be permitted to join the Federal Reserve system, given a satisfactory financial condition D. none of the above