The Fed

By: Courtney McWilliams

The Fed:

Purpose- The purpose is to supervise and regulate banks and other financial institutions.

Regulation- The regulations ensure that the bank is in top shape, and is caught up with everything.

Supervision- The Fed supervises Bank and Financial holding companies, state chartered banks, and various internation banking operations.

District banks & Locations- Boston, Ma; New York, NY; Philadelphia, PA; Cleveland, OH; Richmond, VA; Atlanta, GA; Chicago, IL; St. Louis, MO; Minneapolis, MN; Kansas City, KS; Dallas, TX; San Francisco, CA.

Board of Govenors:

Purpose- To supervise the work of the Federal Reserve banks and issues a variety of banking and consumer credit regulations.

Location- Boston, Ma; New York, NY; Philadelphia, PA; Cleveland, OH; Richmond, VA; Atlanta, GA; Chicago, IL; St. Louis, MO; Minneapolis, MN; Kansas City, KS; Dallas, TX; San Francisco, CA.

Federal Open Market Committee (FOMC):

Purpose- They are charged with guiding open market operations, the buying and selling of U.S. Treasury securities to control the money supply with the multi-faceted goal of limiting business- cycle instability and promoting economic growth.

Function- Economic and financial condition, determines the appropriate stance of the monetary policy.

Bureau of Engraving and Printing:

Responsibility- The design, engraving and printing of all U.S. paper currency.

Facts- It takes about 4,000 folds for a currency note to tear.

U.S. Mint:

Responsibility-

  • Distribute U.S. coins to the Federal Reserve banks and branches
  • Maintain physical custody and protection of the U.S. Nation's $100 billion of U.S. gold and silver
  • Produce proof and uncirculated coins, commemorative coins, and medals for sale to the general public

Facts- A "proof" coin means its the finest quality of a coin.