Please type the answer 4 What government entity is primarily

4. What government entity is primarily in charge of regulating banks? What government entity regulates mutual funds? (2 points)

Solution

Bank Regulator

(i) Board of Governors of the Federal Reserve System- It regulates state chartered banks and trust companies that belong to the Federal Reserve System.

(ii) Federal Deposit Insurance Corporation- It regulates state chartered banks that do not belong to the Federal Reserve System.

(iii) Office of the Comptroller of Currency- It regulates banks that have the word \"National\" in or the letters \"N.A.\" after their names

Mutual Fund Regulator = U.S. Securities and Exchange Commission