The real bills discount authority allowed Federal Reserve notes
and member-bank reserve deposits to vary with seasonal trade requirements because banks experiencing unusual demands for cash or credit could discount their bills to obtain high-powered money.
TABLE 1 FED'S BALANCE SHEET (BILLIONS OF DOLLARS) May 11, 2016 Assets Liabilities Securities Held Outright 4,234 Federal Reserve Notes
1,407 Other 244 Reserve Balances 2,410 Other 621 Total Assets 4,478 Total Liabilities 4,438 May 10, 2016 Assets Liabilities Securities Held Outright 760 Federal Reserve Notes
758 Other 82 Reserve Balances 14 Other 41 Total Assets 842 Total Liabilities 813 Source: Federal Reserve Statistical Release H.4.1, May 12, 2016, May 11, 2006, selected items.
Table 3 T-Accounts for Federal Reserve Banks, New Currency Example Federal Reserve Bank of San Francisco Assets Liabilities +$1 million, ISA balances +$1 million, Federal Reserve Notes
outstanding Federal Reserve Bank of New York Assets Liabilities -$1 million, ISA balances -$1 million, Notes held by Federal Reserve Banks We move now to transactions related to the implementation of monetary or credit policy.
The Fed is authorized to control monetary policy and issue Federal Reserve notes
, now known as the U.S.
Bank notes were not a concern in Depression-era banking legislation because Federal Reserve notes
had largely replaced them as payment instruments.
The Federal Reserve notes
that "vacancy rates on office, industrial, and retail properties have remained at elevated levels at the end of 2010, ranging between 13% and more than 16%, depending upon the property type and location.
When the Federal Reserve notes
that thousands of letters have come into them, all basically the same, it dilutes their meaningfulness.
Collector's Guide to Modern Federal Reserve Notes
Series 1963-2009 offers a spiral-bound format which may not lend readily to library shelving and easy location, but is perfect for collectors seeking lay-flat binding and an expertise that can only come from a numismatic researcher and longtime paper-money dealer.
Although counterfeit gangs backed by drug dealers continue to operate out of Peru, and North Korea has a factory outside of Pyongyang where it uses sophisticated intaglio printers to make bills so undetectable they're known as supernotes, there's only about $45 million worth of phonies among the $750 billion Federal Reserve notes
deteriorated, the Federal Reserve notes
, banks face the possibility of
As a crew of money-hungry armored truck drivels scheming to snatch a fortune in federal reserve notes
, a colorful cast, including Matt Dillon, Jean Reno, Laurence Fishburne and Skeet Ulrich, is allowed to ham it up in promising early scenes before being made limply subordinate to the tedious cracking-under-pressure narrative.
Still, the rate of capacity utilization for total industry in May slumped to 68.3%, and the Federal Reserve notes
that the level is 12.6 percentage points below its average of 1972-2008.