The Fed
Lexi Cords
The Federal Reserve
Purpose
~Created for a more stable and safe banking system
Regulation
~Regulates nation's money supply
Supervision
~Supervises banks
~Oversees the development and fuction of the nation's payment system
District Banks & Locations
~12 District Banks
- Boston, MA
- New York, NY
- Philadelphia, PA
- Cleveland, OH
- Richmon, VA
- Atlanta, GA
- Chicago, IL
- St. Louis, MO
- Minneapolis, MN
- Kansas City, MO
- Dallas, TX
- San Franciso, CA
Board of Governors
~Seven members
~14-year term
~One member is appointed chairman
~Nominated by President of USA, approved by Senate
Location
~Washington D.C.
Purpose
~To help with the regulation of banks and money supply
FOMC (Federal Open Market Committee)
~Main focus is price stability
Purpose
~Regulates the amount of money and credit in the economy
Bureau of Engraving & Printing
~To design and manufacture high
quality security documents that prevent
counterfeiting and meet customer requirements for
quality, quantity and performance
Facts
~Has two facilities
~Uses 9.7 tons of ink per day
~Produces 26 million notes per day ($907 million)
U.S. Mint
~Distributes U.S coins to the Federal Reserve banks and branches
~Produces an adequate volume of circulating coinage for the nation to conduct its commerce and trade
Facts
~World's largest manufacturer of coins
~Annual production of 14-20 billion coins