If people refused to use banks to create checkable deposits, the banking system would the money multiplier decreases.
A network or collection of institutions that offer financial services makes up a banking system. Commercial, national, and investment banks are the three main types of banking systems. Credit unions can also be a part of a banking system.
Banking systems includes Commercial banks, which are consumer-facing like Bank of America, and central banks, which are government organizations that oversee monetary policy and regulate the sector, are included in the category of banking and finance.
Learn more about Banking systems here
https://brainly.com/question/28002074
#SPJ4
