By: Courtney McWilliams
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.
- 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.