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i need this answer toooooo :(
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What were president Jackson's apparent motives in removing government deposits from the bank?
He wanted to destroy the bank's political power.
What happens to deposits when a bank fails?
When a bank fails, deposits are typically protected up to a certain limit by the government through deposit insurance. If the bank is unable to return the deposits, the government steps in to ensure that depositors are reimbursed up to the insured limit.
Why did the government declare bank holiday?
he government declared bank holidays for one reason. Bank holidays are taking so that the bank can do deposits and do back work.
President Jackson destroyed the national bank by?
withdrawing all federal deposits.
How did Jackson kill the bank?
He ordered the withdrawal of all government deposits from the Bank and placed the funds in smaller state banks
how safe is m&t bank?
M&T Bank is FDIC insured, so your deposits up to $100,000 are insured by the Federal Government.
Is your fixed deposit safe in a nationalised bank?
Yes. It is perfectly safe. A Nationalized bank in India is one that is owned by the government of India and the government is responsible for the money that is deposited into it. Even if the bank goes bankrupt, the government is bound to repay all the deposits that were held in the bank by customers.
Are deposits assets or liabilities of a bank?
Customers deposits in a bank are the bank's liabilities because they are OWED to the customer.
What do the Federal Deposit Insurance Corporation do?
The FDIC is a quasi-government entity that insures bank deposits. There exists a maximum to which deposits are insured, and the "coverage" is triggered when a bank becomes insolvent. It is not an insurance company in the common sense of that term.
What is the journal entry for withdrew capital from bank?
Debit owner capitalCredit bank
How does government sponsored deposit insurance affect your decision deposit money in a bank?
If the deposits in one bank are insured by the government sponsored deposit insurance whereas, in another bank this insurance is not available, it means that in case the first bank goes bankrupt, the government will give me my hard earned money that I put into my account with that bank, whereas it won't do anything if the other bank that does not have deposit insurance goes bankrupt and I stand to lose my hard earned money. So, I will deposit my money only in a bank that has the FDIC insurance on deposits available.
What might happen if the government did not insure bank deposits?
people would lose their savings if their banks went out of business
