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Federal Reserve
Federal Reserve

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[{$pagename}] ([FED]) is the [Central Banking System] of the [United States federal government].
[{$pagename}] ([FED]) is the [Central Banking System] of the [United States federal government].[{$pagename}] was created on December 23, [1913|Year 1913], with the enactment of the [Federal Reserve Act], after a series of financial panics (particularly the panic of [1907|Year 1907]) led to the desire for central control of the monetary system in order to alleviate financial crises.
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[{$pagename}] was created on December 23, [1913|Year 1913], with the enactment of the [Federal Reserve Act], after a series of financial panics (particularly the panic of [1907|Year 1907]) led to the desire for central control of the monetary system in order to alleviate financial crises.
Over the years, events such as the Great Depression in the [1930s] and the Great Recession during the [2000s] have led to the expansion of the roles and responsibilities of the [{$pagename}] System.
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Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the [{$pagename}] System.
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[{$pagename}] plays an important role in the [United States National Payment System]. The twelve [Federal Reserve Banks] provide banking services to depository institutions and to the [United States federal government]. For depository institutions, they maintain accounts and provide various payment services, including collecting checks, electronically transferring funds, and distributing and receiving currency and coin. For the [United States federal government], the [Federal Reserve Banks] act as fiscal agents, paying [United States Department of the Treasury] checks; processing electronic payments; and issuing, transferring, and redeeming [United States federal government] securities.
[{$pagename}] plays an important role in the [United States National Payment System]. The twelve [Federal Reserve Banks] provide banking services to depository institutions and to the [United States federal government]. For depository institutions, they maintain accounts and provide various payment services, including collecting checks, electronically transferring funds, and distributing and receiving currency and coin. For the [United States federal government], the [Federal Reserve Banks] act as fiscal agents, paying [United States Department of the Treasury] checks; processing electronic payments; and issuing, transferring, and redeeming [United States federal government] securities.In the [Depository Institutions Deregulation and Monetary Control Act of 1980], Congress reaffirmed that the [Federal Reserve] should promote an efficient [United States National Payment System]. The act subjects all depository institutions, not just [Federal Reserve Member Banks], to reserve requirements and grants them equal access to [United States National Payment System]. The [Federal Reserve] plays a role in the nation's retail and wholesale payments systems by providing financial services to depository institutions. Retail payments are generally for relatively small-dollar amounts and often involve a depository institution's retail clients‍—‌individuals and smaller businesses. The [Federal Reserve Banks]' retail services include distributing [currency] and coin, collecting checks, and electronically transferring funds through the automated clearinghouse system. By contrast, wholesale payments are generally for large-dollar amounts and often involve a depository institution's large corporate customers or counterparties, including other financial institutions. The Reserve Banks' wholesale services include electronically transferring funds through the [Federal Reserve Wire Network] ([Fedwire])
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In the [Depository Institutions Deregulation and Monetary Control Act of 1980], Congress reaffirmed that the [Federal Reserve] should promote an efficient [United States National Payment System]. The act subjects all depository institutions, not just [Federal Reserve Member Banks], to reserve requirements and grants them equal access to [United States National Payment System]. The [Federal Reserve] plays a role in the nation's retail and wholesale payments systems by providing financial services to depository institutions. Retail payments are generally for relatively small-dollar amounts and often involve a depository institution's retail clients‍—‌individuals and smaller businesses. The [Federal Reserve Banks]' retail services include distributing [currency] and coin, collecting checks, and electronically transferring funds through the automated clearinghouse system. By contrast, wholesale payments are generally for large-dollar amounts and often involve a depository institution's large corporate customers or counterparties, including other financial institutions. The Reserve Banks' wholesale services include electronically transferring funds through the [Federal Reserve Wire Network] ([Fedwire])
This page (revision-2) was last changed on 29-Nov-2024 16:16 by -jimTop