Federal Reserve Bank of New York Quote

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
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