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Quote from Federal Reserve Bank of New York,


"Because of 'fractional' reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments."


By:

Federal Reserve Bank of New York (more quotes by Federal Reserve Bank of New York or books by/about Federal Reserve Bank of New York)

Source:

The Story of Banks, p.5. (2006), Story by Gail Donovan; Art by Norman Nodel, Published by Federal Reserve Bank of New York
see <a href=http://www.newyorkfed.org/publications/result.cfm?comics=1>http://www.newyorkfed.org/publications/result.cfm?comics=1</a>

Categories:

Banking, Economics, Fed, Money

Rating:

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