give some features of a national bank
Answers
Answer:
1.Provides services and stability
National banks play a pivotal role in the country’s financial system by providing banking services and stability. The bank allows for the safe holding of deposits and lending to help facilitate business.
2. Facilitates the auction process
In the United States, a national bank is able to facilitate the auction process of U.S. Treasury bonds.
3. Facilitates bank wires
In addition to facilitating the auction process, a national bank will also facilitate daily transactions with their local Federal Reserve Bank. The transactions are called Fed bank wires. As a record, national banks are required to generate call reports to the Fed once a quarter and make the reports public.
Explanation:
A national bank functions as a member bank of the Federal Reserve and must be a member of the Federal Deposit Insurance Corporation (FDIC)
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Functions of a National Bank
Provides services and stability. ...
Facilitates the auction process. ...
Facilitates bank wires.