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Topic: Federal Reserve System

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	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.
		During the 50 years before the passage of the Federal Reserve Act of 1913, surging economic growth was interrupted by economic crises, frequently accompanied by the collapse of the monetary system.
		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.
	encarta.msn.com /encyclopedia_761574452/Federal_Reserve_System.html (2043 words)

	Federal Reserve System. The Columbia Encyclopedia, Sixth Edition. 2001-07
		The Federal Reserve System’s Board of Governors designates one of the federally appointed directors as chairman and Federal Reserve agent; it is the chairman’s duty to report to the Board.
		They may deposit in the reserve accounts the checks on other banks and surplus currency received from their customers, and they may draw on the reserve for various purposes, especially to obtain currency and to pay checks drawn upon them (see clearing).
		Federal Reserve activities designed to expand bank credit may lead to an upswing in the business cycle, which tends to lead toward inflation; conversely, a restriction of credit generally results in decreased business growth and deflation.
	www.bartleby.com /65/fe/FedRS.html (978 words)

	FEDERAL RESERVE SYSTEM: ITS PURPOSES AND FUNCTIONS
		The Federal Reserve Banks differ essentially from privately managed banks in that they are not operated for profit, and their stockholders, which are the member banks, do not have the powers and privileges that customarily belong to stockholders of privately managed corporations.
		Since the Federal Reserve authorities have the power to increase or decrease the supply of reserve funds and within limits to increase or decrease reserve requirements, they are able to exercise considerable influence over the amount of credit, in the aggregate, that banks may be in a position to extend.
		When the Federal Reserve Bank receives a deposit of gold(3) or when it makes a loan or a purchase of securities, and the resulting credits are entered on the reserve accounts of the member banks concerned, the additional reserve funds resulting from the transaction immediately lose their connection with the transaction.
	landru.i-link-2.net /monques/FRSpurfunct.html (19354 words)

	Federal Reserve System, by Manuel H. Johnson: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		The terms of Federal Reserve governors are long (second only to lifetime appointments of federal judges) to insulate the members from political pressures and foster independent decisions.
		The Federal Reserve Act that created the Fed in 1913 called for a highly decentralized system that empowered the twelve regional banks to conduct somewhat autonomous monetary policy actions based on regional economic considerations.
		Manuel H. Johnson is cochairman of Johnson Smick International, a consulting firm in Washington, D.C. He was vice chairman of the Federal Reserve Board from 1986 to 1990 and, previous to that, was assistant secretary of the Treasury for economic policy.
	www.econlib.org /library/Enc/FederalReserveSystem.html (1528 words)

	EconEdLink \| EconomicsMinute \| A Case Study: The Federal Reserve System and Monetary Policy - January 30, 2008
		Banks are required by the Federal Reserve System to hold a portion of their deposits as reserves in the form of currency in their vaults or deposits with Federal Reserve System.
		Reserves consist of the amount of currency that a bank holds in its vault and the bank's deposits at Federal Reserve banks.
		If they have insufficient reserves, that is, less than they are required to have, they have to curtail their lending or borrow reserves from the Federal Reserve or from another bank.
	www.econedlink.org /lessons/index.cfm?lesson=EM220&page=teacher (4794 words)

	FRB: FAQs: Federal Reserve System
		The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States.
		It is a federal system, composed basically of a central, governmental agency--the Board of Governors--in Washington, D.C., and twelve regional Federal Reserve Banks, located in major cities throughout the nation.
		The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks.
	www.federalreserve.gov /generalinfo/faq/faqfrs.htm (1179 words)

	EH.Net Encyclopedia: Federal Reserve (Site not responding. Last check: )
		On the private side, the Fed was to be polycentric system of 12 reserve banks, each having the power to produce a distinct gold-backed currency marked by a seal indicating the district of origin, each owned by its member banks, and each required to finance itself from earnings.
		On the public side, the most important government element was the Federal Reserve Board, a political body that was to oversee the operation of the system.
		Whether the populist founders of the Federal Reserve were fully aware of the role the open market operation loophole might play is subject to debate.
	eh.net /encyclopedia/article/toma.reserve (1042 words)

	Federal Reserve System
		The Federal Reserve System (Fed), the central bank for the U.S., was established on December 23, 1913 with the passage of the Federal Reserve Act, following an era marked by financial panics and economic depressions.
		The Federal Reserve System is an unusual mixture of public and private elements and centralized and decentralized components.
		The 12 regional Federal Reserve Banks, which are legally private but functionally public corporations, and their branch offices serve as the decentralized portion of the system, carrying out day-to-day operations, such as circulating currency and coin and providing fiscal agency functions and payments mechanism services.
	www.accessnorthga.com /articles/money/frs.asp (723 words)

	The Federal Reserve Bunk
		The premise used by President Wilson and his financial advisors for the establishment of the Federal Reserve System was to "supplant the dictatorship of the private banking institutions" and "to stabilize the inflexibility of national bank note supplies".
		The Federal Reserve was to unite and supevise the entire banking system, control the expansion or contraction of currency, and regulate the flow of money to the commercial banks through the establishment of 12 Federal Reserve Banks.
		If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.
	www.sonic.net /sentinel/naij2.html (1349 words)

	Federal Reserve System Definition
		The central banking system of the U.S., comprised of the Federal Reserve Board, the 12 Federal Reserve Banks, and the national and state member banks.
		The Federal Reserve was established in 1913 to maintain a sound and stable banking system throughout the United States and to promote a strong economy.
		These "reserve requirements" are set by the Board of Governors and by changing the requirements, the Federal Reserve System can greatly impact the amount of money supply in the economy.
	www.investorwords.com /1914/Federal_Reserve_System.html (449 words)

	Article: Federal Reserve System
		The Federal Reserve System (the Fed), the central bank for the U.S., was established on December 23, 1913 with the passage of the Federal Reserve Act, following an era marked by financial panics and economic depressions.
		The Federal Reserve System is an unusual mixture of public and private elements and centralized and decentralized components.
		The 12 regional Federal Reserve Banks, which are legally private but functionally public corporations, and their branch offices serve as the decentralized portion of the system, carrying out day-to-day operations, such as circulating currency and coins and providing fiscal agency functions and payments mechanism services.
	www.crown.org /Library/ViewArticle.aspx?ArticleId=390 (741 words)

	Federal Reserve System - Money News Story - WPXI Pittsburgh
		The Federal Reserve System, or the Fed, is responsible for managing the country’s banks, and by extension, how Americans can spend their money.
		Reserve Requirement: This stipulates that all banks must hold in reserve a certain percentage of their deposits.
		Because customers continually affect a bank’s reserves, banks are forced to borrow from other banks to meet the reserve requirement.
	www.wpxi.com /money/4560364/detail.html (760 words)

	Fed Scandal Documentation
		Undoubtedly the most critical, well founded and earliest condemnation of the Federal Reserve System, the McFadden Report lays the Fed bare for all to see the atrocious fraud that it is. Chairman of a powerful House Banking Committee, McFadden completed a thorough examination of the Federal Reserve System.
		The Federal Reserve System is the worst financial and political scandal in American history, if not all history.
		Federal Reserve will be called the greatest scandal of all times; the greatest looting and plundering of any people in all history, except by armed conquest.
	www.uhuh.com /unreal/fedbad.htm (3617 words)

	Abolish the Federal Reserve
		Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy.
		Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state.
		Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold.
	www.house.gov /paul/congrec/congrec2002/cr091002b.htm (1811 words)

	[No title]
		Until a few years ago, however, the names of those who owned the Federal Reserve were one of the best kept secrets of international finance, due to a provision of the Federal Reserve Act which stated that the identities of the Fed's Class A stockholders cannot be revealed.
		Ever since the founding of the Federal Reserve, consistent efforts have been made by conservatives of both houses of Congress to have their leaders put a stop to the Fed and to the dark forces behind it.
		But one possible negative outcome could be a return to a feudal system with 98% of the people shackled to some major corporation in the same way that serfs lived by the whim of their overlord.
	www.rumormillnews.com /fedres.htm (6075 words)

	Board of Governors of the Federal Reserve System
		Federal Reserve announces results of auction of $75 billion in 28-day credit held on June 30, 2008
		A Federal Reserve System website dedicated to providing information and resources about personal financial education, resources for teachers, and information about the Federal Reserve.
		Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW, Washington, DC 20551
	www.federalreserve.gov (201 words)

	The Federal Reserve System
		The Federal Reserve conducts monetary policy using three major tools: (1) open market operations to control the level of reserves in the depository system.
		Policy regarding open market operations is the responsibility of the Federal Open Market Committee (FOMC) comprising the seven members of the Board, the president of the New York Federal Reserve Bank, and the presidents of four other reserve banks on a rotating basis.
		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.
	wfhummel.cnchost.com /fedoverview.html (1181 words)

	__________________________________________
		Vieira's purpose is to present an analysis of the Federal Reserve System, its fiat paper currency, and "fractional-reserve" banking that infrequently, if ever, appears in the popular press, in the media, in the discourse of legislators or political candidates, or (worse yet) in the nation's schools.
		The condition "in a free-market system" is crucial, because the self-limiting aspect of fiduciary money historically has failed in an economic regime in which the government or powerful private interests license the issuers of fiduciary monies to suspend or repudiate entirely their promises to redeem those monies on demand in coin.
		The FRS was an attempt to maintain that system in perpetuity - first, at the national level with the Federal Reserve Act in 1913, and then at the international level with the Bretton Woods Agreement in 1944.
	home.hiwaay.net /~becraft/VieiraMono4.htm (4762 words)

	Structure and Functions - Index
		Established in December 1913 by the Federal Reserve Act, the Federal Reserve System was designed to address the conditions underlying the money panics that had plagued the country for many years.
		It contributes to the safety and soundness of the nation’s financial system by establishing regulations and acting as a commercial bank supervisor.
		And, by serving as a bank for depository institutions and the federal government, the Fed helps ensure that the system of paying for all kinds of business transactions works efficiently.
	www.frbatlanta.org /invoke_brochure.cfm?objectid=883843FC-AB84-11D5-898400508BB89A83&method=display_body (221 words)

	Federal Reserve System - The New York Times
		The federal funds rate is set by the Fed’s Open Market Committee, composed of the chairman, currently Ben S. Bernanke, the six other governors, and five of the 12 regional bank presidents, on a rotating basis.
		The Federal Reserve released documents Friday providing insights into its private deliberations of the controversial decisions that led to the bailout of Bear Stearns.
		The Federal Reserve knows that its credibility as a central bank would be damaged if investors concluded it was not determined to combat the recent rise in prices.
	topics.nytimes.com /top/reference/timestopics/organizations/f/federal_reserve_system/index.html?inline=nyt-org (1354 words)

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