Update
The Oxford Biblical Studies Online and Oxford Islamic Studies Online have retired. Content you previously purchased on Oxford Biblical Studies Online or Oxford Islamic Studies Online has now moved to Oxford Reference, Oxford Handbooks Online, Oxford Scholarship Online, or What Everyone Needs to Know®. For information on how to continue to view articles visit the subscriber services page.
Dismiss

Related Content

More Like This

Show all results sharing these subjects:

  • Social sciences
  • Economics

GO

Show Summary Details

Overview

Federal Reserve System


Quick Reference

The US system of central banking. This consists of a Board of Governors in charge of twelve District Reserve Banks (a district here means a group of states). The Governors are appointed by the President, with Senate approval. They fix reserve and margin requirements and discount rates through the Federal Open Market Committee, provide discounting facilities, and appoint the directors of the twelve District Reserve Banks. The District Banks supervise member banks in their regions: member banks are subject to stricter reserve requirements than other banks, but in return can obtain cheaper services from the Fed. The Fed acts as agent in collecting taxes and administering federal government debt, and Federal Reserve Notes form the US currency.

Subjects: Social sciencesEconomics


Reference entries

View all reference entries »