Chartered bank loan policy
“When a chartered bank makes loans, it makes money; while loans are repaid, money is destroyed.” Describe.
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Banks add to cheque account balances while they make loans; these chequable deposits are part of the money supply. People pay off loans through writing cheques; chequable deposits decrease, meaning the money supply drops. Money is “destroyed.”
Organization Code: The four-digit code allotted to each state governmental entity (and at times to exclusive budgetary programs) for fiscal system aims. The organization code is the initial segment of the budget item or appropriation
Control Sections: The sections of the Budget Act (that is, 1.00 to the end) giving specific controls on the appropriations itemized in the Section 2.00 of Budget Act.
1. Assume the following (all rates are stated annually with semiannual compounding):
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