The Depository Institutions Deregulation and Monetary Control Act of 1980 subjected
A) only member banks to the reserve requirements set by the Fed.
B) only S&Ls to the reserve requirements set by the Fed.
C) all depository institutions to the reserve requirements set by the Fed.
D) only national banks to reserve requirements set by the Fed.

Question

Quizplus · Accepted Answer

The Depository Institutions Deregulation and Monetary Control Act of 1980 applied to all depository institutions (including member banks, S&Ls, and credit unions), and it established reserve requirements for these institutions, which were set by the Federal Reserve. Therefore, choice C is the correct answer. The other options are incorrect because they either apply only to specific types of institutions or are not accurate statements about the act.