Steve banks at a commercial bank that advertises its membership in the FDIC. This means that:

1. the bank guarantees it will pay the highest possible interest rate on his savings.
2. his money is insured by an independent agency of the federal government.
3. his money is automatically invested in securities issued by the federal government.
4. the bank is a member of a larger consortium of banks that will enable Steve to cash checks and obtain basic bank services in virtually any major city in the United States.
5. the bank issues stocks and bonds to Steve at no surcharge.