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Federal Reserve System

The central bank system of the United States. The Federal Reserve regulates the monetary policy of the United States, especially by setting the discount rate and the fed funds rate and by buying and selling U.S. Treasury securities. It consists of 12 regional banks that operate under the guidance of a Federal Reserve Board, whose seven members are appointed by the President of the United States. The Federal Reserve System has the authority to print money, a controversial measure both now and at the time it was founded. All federally-chartered banks must belong to the Federal Reserve System and purchase a certain amount of stock in the Federal Reserve bank in charge of their particular regions. The Federal Reserve System was established in 1913.

Fed

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NASDAQ: FECC, BSX: FECC, FECC BH), FEDS Asia provides banks and financial institutions with universal, secure, cost efficient electronic payment solutions.
FEDS was formed early 2000 as a joint venture operation between Bank of Bermuda and First Ecom.
We believe there is a great potential for e-commerce business on the island and are pleased to be working with FEDS to provide our merchants with a much needed e-commerce solution.
We are very excited that FEDS has finally obtained the required regulatory approval and can be equally owned by Bank of Bermuda and First Ecom while being domiciled in Bermuda," said Harold Hutton, First Ecom President and CEO.
Roger Ellis, who brings more than 17 years experience in semiconductor and display technology development and marketing, will develop and implement strategies for FED Corp.
That enables the Philadelphia Fed to offer low-cost, high-quality service that other Feds and even private clearing banks are hard pressed to match.
The privately held company is currently working toward development of its proprietary version of FEDs for a variety of high resolution, custom applications.
The 21 inside jobs since 1987 were reported by the Fed in response to an inquiry from Rep.