1. The Federal Reserve was established in 1913 to centralize control of the U.S. monetary system.
2. Financial crises, especially bank panics, have always resulted in immediate, effective regulation changes in the U.S.
3. A 5% decline in a bank's asset value is enough to trigger its collapse due to leverage.
4. The Dodd-Frank Act was introduced to reimpose regulations after the 2008 Great Recession.
5. The FDIC insures deposits to prevent bank panics and guarantee the safety of depositors' funds.
6. The Glass-Steagall Act, which separated commercial and investment banking, is still in effect today.
7. The Savings and Loan crisis of the 1980s led to increased regulation of the banking sector.
8. AI in banking is primarily used for automating routine tasks, like account balance inquiries and loan applications.
9. AI-powered chatbots in banking are limited to answering basic customer service questions.
10. AI can help banks offer personalized financial advice and product recommendations based on customer data.
11. Quorum, developed by JPMorgan Chase, is a fork of the Bitcoin blockchain for financial transactions.
12. Blockchain provides immutable recordkeeping, enhancing security and reducing fraud in the financial sector.
13. By leveraging blockchain for tokenized money market funds, JPMorgan Chase allows investors to avoid liquidating their assets while using them as collateral.
14. Blockchain's ability to provide detailed traceability and verification does not enhance transparency in financial transactions.
15. Tokenizing money market funds via blockchain reduces costs and improves the client experience.