One significant feature of DIDMCA was that it:
A)expanded the ability of the Fed to influence unemployment rates
B)expanded Fed control over the reserve requirements of non-member banks
C)created the FDIC
D)none of the above

Question

Quizplus · Accepted Answer

DIDMCA (Depository Institutions Deregulation and Monetary Control Act) expanded Fed control over the reserve requirements of non-member banks. It reduced the reserve requirement ratios and made them more uniform across all types of accounts held at member and non-member banks. This allowed the Fed to have greater control over the money supply and monetary policy. However, it did not specifically address the Fed's influence on unemployment rates or create the FDIC (that was created by the Banking Act of 1933).

One Significant Feature of DIDMCA Was That It