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

Facts

~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)

Function

~Main focus is price stability

Purpose

~Regulates the amount of money and credit in the economy

Bureau of Engraving & Printing

Responsibility

~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

Responsibility

~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