Which of the following is an accurate description of a dual banking system? Government protection from losses may occur if a bank becomes insolvent or fails. There exists a system in which bank...

Which of the following is an accurate description of
a dual banking system?

Government protection from losses may occur if a bank becomes insolvent or fails.

There exists a system in which bank charters are granted by both the government and private licensing organizations.

The government grants charters to banks.

Government permission is needed to establish and operate a depository institution.

Which of the following most accurately explains why the bank chartering system of the United States is known as the reason for a dual banking system?

Society cannot allow just anyone to open a bank because banks have a lot of proprietary information.

The government grants charters to banks.

There exists a system in which bank charters are granted by both the government and private licensing organizations.

Banks do not disclose to whom they have made loans and for how much.