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.

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.

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.

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.

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.

References in periodicals archive ?
The proposed statement was issued by the Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
The BEP and the Federal Reserve System have been educating the public worldwide about the new bills in professional and community settings, in preparation for a smooth transition this fall.
And to uphold OUT currency's soundness, it must be recognized and honored as legal tender, and counterfeiting must be effectively thwarted," said Alan Greenspan, Chairman of the Board of Governors of the Federal Reserve System.
The Federal Reserve System, at the urging of consumer advocate groups, including the National Consumer Law Center, has reviewed compliance issues concerning "bounce protection," "courtesy pay" and similar overdraft programs for more than a year.
The Board adopted the amendment to Regulation H, Membership of State Banking Institutions in the Federal Reserve System, and Regulation K, International Banking Operations, 12 C.
The 89th Annual Report, 2002, of the Board of Governors of the Federal Reserve System, covering operations for the calendar year 2002, is now available from Publications Fulfillment, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, DC 20551, or phone 202-452-3244 or 3245.
I'm honored to have been chosen for this key position, and I look forward to meeting employees and community leaders throughout the highly diverse states that comprise the largest district in the Federal Reserve System," Yellen said.
It was issued by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision.
The Federal Reserve System, at the urging of consumer advocate groups, including the National Consumer Law Center, has been reviewing compliance issues concerning "bounce protection" and similar overdraft programs.
former Vice Chairman of the Board of Governors of the Federal Reserve System and economic advisor to President Bill Clinton.

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