EBK THE ECONOMICS OF MONEY, BANKING AND
EBK THE ECONOMICS OF MONEY, BANKING AND
5th Edition
ISBN: 9780134734545
Author: Mishkin
Publisher: YUZU
Question
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Chapter 11, Problem 2Q
To determine

Reason for operation for a dual banking system in the United States.

Concept Introduction:

Usually, in many European and Asian countries, all banks are supervised by a single central regulator. However, in the United States, there are two types of banks: nationally chartered and state-chartered. This is known as the dual banking system. The federally chartered banks are usually larger and follow the federal laws and supervised by federal agency. The state-chartered banks, on the other hand, are regulated by the state laws and some of the federal regulations.

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