Question: please help me. please read on the comment box Why are banks required to maintain reserves against their deposits and deposit substitutes? State the purposes

please help me. please read on the comment box

  1. Why are banks required to maintain reserves against their deposits and deposit substitutes? State the purposes for these reserves.
  2. How do you characterize the legal relationship between a commercial bank and its safety deposit box client? Explain.
  3. Why banks, quasi banks and non-bank financial intermediaries are "Covered Persons" under Anti- Money Laundering Act? Explain.
  4. Why securities market institutions are covered persons under Anti-Money Laundering Act (AMLA)? Explain.
  5. How do covered persons under Anti-Money Laundering Act play roles in the implementation of AMLA?

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