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Topic: Federal Reserve Banks

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In the News (Sun 21 Jul 19)

  FRB: Federal Reserve Districts and Banks
The Federal Reserve officially identifies Districts by number and Reserve Bank city.
In the 12th District, the Seattle Branch serves Alaska, and the San Francisco Bank serves Hawaii.
The System serves commonwealths and territories as follows: the New York Bank serves the Commonwealth of Puerto Rico and the U.S. Virgin Islands; the San Francisco Bank serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.
www.federalreserve.gov /otherfrb.htm   (81 words)

  Federal Reserve System - MSN Encarta
Federal Reserve System, central banking system of the United States, popularly called the Fed. A central bank serves as the banker to both the banking community and the government; it also issues the national currency, conducts monetary policy, and plays a major role in the supervision and regulation of banks and bank holding companies.
The board of directors is responsible for the administration of its bank and for appointing the bank's president and vice president (subject to the approval of the Board of Governors).
Their staffs examine state member banks (national banks are examined by the staff of the Office of the Comptroller of the Currency; insured nonmember banks are subject to FDIC examination), decide on granting loans to members, and carry out the routine banking functions for the federal government.
encarta.msn.com /encyclopedia_761574452/Federal_Reserve_System.html   (1993 words)

 Federal Reserve System - Printer-friendly - MSN Encarta
When the required reserve ratio is raised, banks are unable to create as much money as they previously were able to because a larger portion of their assets must be held in reserve; the converse is true when the reserve ratio is reduced.
The Federal Reserve is sometimes considered a fourth branch of the U.S. government because it is made up of a powerful group of national policymakers freed from the usual restrictions of governmental checks and balances.
Thus, the Federal Reserve is relatively free from the partisan political pressures that operate in the Congress, although the Fed must report frequently to Congress on the conduct of monetary policy.
encarta.msn.com /text_761574452___0/federal_reserve_system.html   (2352 words)

 Federal Reserve Banks
The organization committee of the Federal Reserve Board may permit the applying bank to become a stockholder in the Federal reserve bank of the district in which the applying bank is located.
A Federal Reserve Board is created by the act, consisting of seven members, including the Secretary of the Treasury and the Comptroller of the Currency, and five members appointed by the President of the United States, which board is to exercise general supervision over the Federal reserve banks.
Federal reserve notes, to be issued at the discretion of the Federal Reserve Board for the purpose of making advances to Federal reserve banks through the Federal reserve agents as set forth in the act and for no other purpose, are hereby authorized.
www.oldandsold.com /articles32n/banking-4.shtml   (1369 words)

 Federal Reserve Act December 23, 1913
Any national bank failing to signify its acceptance of the terms of this Act within the sixty days aforesaid, shall cease to act as a reserve agent, upon thirty days' notice, to be given within the discretion of the said organization committee or of the Federal Reserve Board.
A Federal Reserve Board is hereby created which shall consist of seven members, including the Secretary of the Treasury and the Comptroller of the Currency, who shall be members ex of ficio, and five members appointed by the President of the United States, by and with the advice and consent of the Senate.
Any Federal reserve bank may discount acceptances which are based on the importation or exportation of goods and which have a maturity at time of discount of not more than three months, and indorsed by at least one member bank.
www.multied.com /documents/Federalreserve.html   (1668 words)

 The Role of Federal Reserve Banks in the Federal Reserve System - Poole Speech - St. Louis Fed
As this overview indicates, the Federal Reserve banks, with oversight by the Federal Reserve Board of Governors in Washington, have a mix of public and private responsibilities.
Reserve bank presidents are appointed by the boards of directors with the approval of the Board of Governors.
His attacks on the bank’s power struck a popular chord with farmers, small businesses, small banks and many politicians; all of them perceived the bank to be a giant obstacle in their path to success.
www.stls.frb.org /news/speeches/2006/03_30_06.htm   (3469 words)

 BONDTALK.com: Federal Reserve - Federal Reserve Banks
Federal Reserve Banks generate their own income, primarily from interest earned on government securities that are acquired in the course of Federal Reserve monetary policy actions.
Federal Reserve Banks are not, however, operated for a profit, and each year they return to the U.S. Treasury all earnings in excess of Federal Reserve operating and other expenses.
The Federal Reserve Banks hold, in their vaults, collateral for government agencies to secure public funds that are on deposit with private depository institutions.
www.bondtalk.com /global.cfm?S=fedres&SS=dstbanks   (943 words)

 Structure and Functions - Federal Reserve Banks
Federal Reserve Banks are the decentralized element of the U.S. central bank.
Reserve Bank directors, under Board of Governors supervision, oversee their bank’s operations and appoint and recommend salaries of the bank’s president and first vice president.
Reserve Banks monitor national and international economic conditions and provide information on their districts that is used in formulating monetary policy.
www.frbatlanta.org /invoke_brochure.cfm?objectid=88384591-AB84-11D5-898400508BB89A83&method=display_body   (332 words)

 Federal Reserve System
The site is a simplified portal designed to provide easy access to information available throughout the Federal Reserve System by means of a compilation of links to other web sites maintained by the Federal Reserve Banks and the Board of Governors of the Federal Reserve System.
All non-personal information submitted to the Federal Reserve Banks via this site shall be deemed the property of the Federal Reserve Banks and such information will be deemed to be not confidential.
The Federal Reserve Banks monitor this site for unauthorized attempts to upload or change information, to defeat or circumvent security measures, or to utilize this site for other than its intended purposes.
www.federalreserveonline.org /privacy.htm   (0 words)

 Federal Reserve System: A Glossary of Political Economy Terms - Dr. Paul M. Johnson
The private banking community was also given a major role in the running of the Federal Reserve System that continues to give banking interests privileged access to the process by which the US government's monetary policy is made.
The members of the Federal Reserve's Board of Governors serve very long terms (fourteen years), and, once appointed and confirmed, they may not be removed from office by either President or Congress (except through a cumbersome process of impeachment by Congress for serious violations of the criminal law).
All banks chartered as "national banks" by Federal law must be "member banks," that as such are obligated to maintain most of their reserves as deposits in their accounts at the Federal Reserve and to submit to detailed Federal Reserve banking regulations.
www.auburn.edu /~johnspm/gloss/federal_reserve_system   (947 words)

 The Federal Reserve System
The Reserve Banks, like the Board, are subject to audit by the GAO, but certain functions such as transactions with foreign central banks and open market operations are excluded from audit.
Those chartered by the federal government (through the Office of the Comptroller of the Currency in the Department of the Treasury) are national banks, and by law are members of the System.
Banks chartered by the states are divided into those that are members of the System and those that are not.
wfhummel.cnchost.com /fedoverview.html   (1181 words)

 "Regulation A"
Federal Reserve Banks extend adjustment credit on a short-term basis to depository institutions to assist in meeting temporary requirements for funds or to cushion more persistent shortfalls of fundspending an orderly adjustment of a borrowing institution's assets and liabilities.
Federal Reserve Banks extend seasonal credit for periods longer than those permitted under adjustment credit to assist smaller depository institutions in meeting regular needs for funds arising from expected patterns of movement in their deposits and loans.
Federal Reserve Banks may extend credit between and including October 1, 1999, and April 7, 2000, or such later date as determined by the Board, under a special liquidity facility to ease liquidity pressures during the century date change period.
www.kybanks.com /uploads/comrega.html   (3750 words)

 [No title]
In addition to working toward these aims through its conduct of monetary policy, the Federal Reserve is a bank for banks, a bank for the U.S. government, and a supervisor and regulator of banks.
The reality is that many banks that had been only marginally sound during the 1920's and had lent more in risky speculative investments then they had in reserve.
The Federal Reserve, established in 1913, was made to look respectable by placing it under the control of a Board appointed by the President.
www.lycos.com /info/federal-reserve-system--banks.html?page=2   (588 words)

 Federal Reserve Bank of Philadelphia - About the Fed - FAQ
Federal Reserve Banks, created by an act of Congress in 1913, are operated in the public interest rather than for profit or to benefit any private group.
Member banks receive a fixed 6 percent dividend annually on their stock and elect six of the nine members of the Reserve Bank’s board of directors.
The FOMC consists of 12 voting members: the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and, for the remaining four memberships, which carry a one-year term, a rotating selection of the presidents of the 11 other Reserve Banks.
www.phil.frb.org /publicaffairs/faq.html   (1938 words)

 Foolish Feature, Alan Greenspan and the Federal Reserve
The Federal Reserve System is a unique government organization, and was created in 1913 to bring federal oversight to a largely unregulated banking industry, which had experienced severe booms and busts over the previous century.
The Federal Reserve System consists of a central Board of Governors in Washington, D.C., and 12 regional Federal Reserve Banks, each of which is privately chartered but subject to the federal authority held by the Board.
Reserve requirements, which is a proportion of their deposits that all banks and other depository institutions are required to hold in reserve, some in their own vaults and some at the Reserve banks.
www.fool.com /specials/2001/SpecialFed/FederalReserve.htm   (913 words)

 How the Federal Reserve works
The Federal Reserve's unique and complex structure was designed by Congress to give the System a broad perspective on economic activity in all parts of the country — and to create a balance of public and private control.
The Reserve Bank presidents are appointed to five-year terms by the bank's board of directors.
The president of the New York Reserve Bank serves on a continuous basis and is the vice chairman of the Committee.
www.clevelandfed.org /about/historyfrs.cfm   (670 words)

It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.
The district court dismissed, holding that the Federal Reserve Bank is not a federal agency within the meaning of the Federal Reserve Act and that the court therefore lacked subject matter jurisdiction….
The Reserve Banks, which further the nation's fiscal policy, clearly perform an important governmental function….Performance of an important governmental function, however, [**11] is but a single factor and not determinative in tort claims actions….
www.monetary.org /federalreserveprivate.htm   (4170 words)

 Federal Reserve Bank of Minneapolis - Glossary   (Site not responding. Last check: )
Since the cash reserve a bank keeps on hand is only a small fraction of its deposits, a large number of withdrawals in a short period of time can deplete available cash and force the bank to close and possibly go out of business.
As the nation's central bank, the Federal Reserve has the authority and financial resources to act as “lender of last resort” by extending credit to depository institutions or to other entities in unusual circumstances involving a national or regional emergency, where failure to obtain credit would have a severe adverse impact on the economy.
State-chartered banks are divided into those that are members of the System (state member banks) and those that are not (nonmember banks).
www.minneapolisfed.org /glossary.cfm   (6063 words)

 WHO OWNS THE FEDERAL RESERVE BANKS   (Site not responding. Last check: )
Because the original act required that member banks invest a sum equal to 6 percent, of their capital in the stock of their regional Federal Reserve bank.
Because private banks, and the regional Federal Reserve banks they controlled, might pass on loans that were doubtful, the probity of Federal Reserve notes (and Treasury balances kept on deposit at the Federal Reserve banks) might be endangered.
Forcing member banks to “invest” some of their capital in the Federal Reserve was a guarantee against loose practices.
www.familypiggybank.com /money_ch_6.htm   (342 words)

 [No title]   (Site not responding. Last check: )
Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank's district.
National banks, banks that had received their charter from the Comptroller of the Currency which is part of the U.S. Treasury Department, had to belong to the system.
Because the regulations to hold assets that do not earn interest were costly for most banks, most new banks during the 1960s and 1970s were chartered as state banks, and the percentage of deposits held in member banks declined during this period.
www.lycos.com /info/federal-reserve-system.html   (749 words)

 OCC: Related Sites   (Site not responding. Last check: )
The Federal Financial Institutions Examination Council is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal
Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS) and to make recommendations to promote uniformity in the supervision of financial institutions.
The Federal Reserve, the central bank of the United States, was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.
www.occ.treas.gov /Sites.htm   (669 words)

 Real Estate News and Tips for Buyers, Sellers & Investors - Inman News
Most Federal Reserve Districts across the country reported declines in home sales and construction activity, "substantial increases in the inventory of unsold homes" and a general expectation of continued weakness in the housing market, according to an informal review prepared by the Federal Reserve Bank of New York.
The banks are divided into 12 districts: Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Philadelphia, Richmond, San Francisco and St. Louis.
Banks reported mixed but generally slowing trends in lending activity during the summer, with a pronounced softening in demand for home mortgages.
www.inman.com /inmannews.aspx?ID=56400   (1006 words)

 Federal Reserve Banks   (Site not responding. Last check: )
Federal Reserve Bank of Chicago - features national and regional economic data, publications, community information, and resources for bankers, educators, media professionals and more.
Federal Reserve Bank of Cleveland - features analysis, information, and resources relating to banking, bank regulation, economics, monetary policy and the Federal Reserve System.
Federal Reserve Bank of New York - responsible for formulating and executing monetary policy, supervising and regulating depository institutions, assisting the federal government's financing operations and serving as the US government banker.
www.southwestern.edu /~earlyd/fedbanks.htm   (171 words)

 Directors of Federal Reserve Banks and Branches Federal Reserve Bulletin - Find Articles
Under the Federal Reserve Act, decentralization was achieved by division of the country into twelve regions called Federal Reserve Districts and the establishment in each District of a separately incorporated Federal Reserve Bank with its own board of directors.
The blending of governmental and private characteristics is provided through ownership of the stock of the Reserve Bank by member banks in its District, which also elect the majority of the board of directors, and by the general supervision of the Reserve Banks by the Board of Governors, an agency of the federal government.
Each Federal Reserve Bank has nine members on its board of directors: The member banks elect the three Class A and three Class B directors, and the Board of Governors appoints the three directors in Class C. Directors are chosen without discrimination as to race, creed, color, sex, or national origin.
www.findarticles.com /p/articles/mi_m4126/is_5_85/ai_54836576   (498 words)

 US CODE: Title 12,248. Enumerated powers
To permit, or, on the affirmative vote of at least five members of the Board of Governors, to require Federal reserve banks to rediscount the discounted paper of other Federal reserve banks at rates of interest to be fixed by the Board.
To add to the number of cities classified as reserve cities under existing law in which national banking associations are subject to the reserve requirements set forth in section 20 of this Act, or to reclassify existing reserve cities or to terminate their designation as such.
To suspend or remove any officer or director of any Federal reserve bank, the cause of such removal to be forthwith communicated in writing by the Board of Governors of the Federal Reserve System to the removed officer or director and to said bank.
www.law.cornell.edu /uscode/12/248.shtml   (1441 words)

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