The process of transferring Federal Reserve deposits among banks as paid checks is called

A) savings.
B) check clearing.
C) lending.
D) reconciliation.

Federal Reserve Deposits

Reserves held by commercial banks at the Federal Reserve, which are used to meet reserve requirements and facilitate day-to-day banking operations.

Check Clearing

The process by which banks settle transactions made by checks, ensuring that the funds move from the check writer's account to the recipient's.