| A | B |
|---|
| bank | an institution for saving, storing, and loaning money |
| Federal Reserve | the central bank of the United States |
| non-profits | businesses that operate to break even with their expenses |
| Wall Street | the term used to describe the financial center in New York City that is home to the New York Stock Exchange |
| savings and loan association | a type of financial institution that started with members contributing funds for individuals to borrow to build homes; |
| fiat money | money that is valuable because the government says that it is; also known as legal tender |
| Federal Deposit Insurance Corporation (FDIC) | insurance that protects individual accounts in banks up to $250,000 in case of bank failure |
| commercial bank | a financial institution that operates to make a profit |
| credit union | a type of financial institution that is owned by the members and does not operate for a profit; |
| fractional reserve banking | banks only keep a portion of funds that are deposited in the bank and loan out the remainde |
| certificate of deposit | money deposited in a bank for a specific amount of time |
| collateral | property used to secure a loan |
| money market account | a type of savings account that yields higher interest |
