Federal Reserve System

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Federal Reserve System

The monetary authority of the US, established in 1913, and governed by the Federal Reserve Board located in Washington, D.C. The system includes 12 Federal Reserve Banks and is authorized to regulate monetary policy in the US as well as to supervise Federal Reserve member banks, bank holding companies, international operations of US banks, and US operations of foreign banks.
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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.
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Federal Reserve System

The independent central bank that influences the supply of money and credit in the United States through its control of bank reserves. Federal Reserve actions have great impact on security prices. For example, restriction of bank reserves and lending ability in an attempt to restrain inflation tends to drive up interest rates and drive down security prices over the short run. Also called Fed. See also Federal Open Market Committee.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

Federal Reserve System.

The Federal Reserve System, sometimes known as the Fed, is the central bank of the United States.

The Federal Reserve System, which was established in 1913 to stabilize the country's financial system, includes 12 regional Federal Reserve banks, 25 Federal Reserve branch banks, all national banks, and some state banks. Member banks must meet the Fed's financial standards.

Under the direction of a chairman, a seven-member Federal Reserve Board oversees the system and determines national monetary policy. Its goal is to keep the economy healthy and its currency stable.

The Fed's Open Market Committee (FOMC) sets the discount rate and establishes credit policies. The Federal Reserve Bank of New York puts those policies into action by buying and selling government securities.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

Federal Reserve System

Often called “the Fed,”it is the central bank of the United States,created in 1913.It regulates credit through the interest rates it charges for short-term loans to financial institutions,supervises and regulates banking institutions,and provides advisory services to the government.Funding comes from interest on investments,fees for services to depository institutions,and interest on loans.The public usually comes into contact with the Fed in two ways:When the Federal Reserve chairman announces interest rate changes for loans to member financial institutions,almost all financial institutions change their interest rates within days afterward.In this way,the Fed controls the cost of credit to consumers.Additionally,it provides a central clearinghouse for checks drawn on different banks across the nation, making it possible for your bank in your home town to give you credit for a check drawn on another bank on the other side of the country.

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References in periodicals archive ?
The Federal Reserve is also working with the French banking supervisor to take joint action to require Credit Lyonnais and its parent to enhance their overall compliance programs.
The Federal Reserve Board on August 24, 2004, announced the issuance of a consent notice of prohibition against Charles Kushner, an institution-affiliated party of The NorCrown Trust, an unregistered bank holding company that owns or controls the shares of the NorCrown Bank, Livingston, New Jersey, a state nonmember bank.
As of August 7, 2004, the Milwaukee office of the Federal Reserve Bank of Chicago no longer processes checks, and banks served by that office have been reassigned to the Reserve Bank's head office.
The Federal Reserve Board on May 14, 2004, announced the issuance of a consent order to cease and desist against Riggs National Corporation, Washington, D.C., a bank holding company, and Riggs International Banking Corporation, Miami, Florida, an Edge corporation.
Fee schedules for all priced services will be available on the Federal Reserve Banks' financial services web site at www.frbservices.org.
JONES President and CEO, DMJ Advisors, LLC, and author of several books on the Federal Reserve including Unlocking the Secrets of the Fed: How Monetary Policy Affects the Economy and Your Wealth-Creation Potential (John Wiley and Sons, 2002)
So, if Congress is serious about reforming the Federal Reserve, it will necessarily have to think about changing more than the institutional behavior of the Fed.
The Federal Reserve Board announced on September 28, 2005, the issuance of an order of prohibition against Jessica Faris, a former employee and institution-affiliated party of SunTrust Bank, Atlanta, Georgia.
The Federal Reserve Board announced on August 9, 2005, amendments to appendix A of Regulation CC (Availability of Funds and Collection of Checks) that reflect the restructuring of the Federal Reserve's check-processing operations in the Twelfth District.
The Federal Reserve Banks announced on June 28, 2005, changes to cash services that are intended to improve operating effectiveness by providing cash services at some locations using different distribution methods.
The Federal Reserve System announced on April 18, 2005, that it has redesigned its financial education web site to increase the use of Federal Reserve educational materials and promote financial education in the classroom.
The Federal Reserve Board announced on April 21, 2005, the issuance of a consent order of assessment of a civil money penalty against the Irwin Union Bank, Columbus, Indiana, a state member bank.

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