Federal Reserve System
The Federal Reserve System (also the Federal Reserve; informally The Fed) is the
central banking system of the
United States. The Federal Reserve System, created in 1913, is a private banking system composed of (1) the presidentially-appointed
Board of Governors of the Federal Reserve System in
Washington, D.C.; (2) the
Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable
stock in their regional Federal Reserve Banks; and (5) various advisory councils.
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Federal Reserve Board
Noun
1. the 7-member board governing the Federal Reserve System
(hypernym) board
Federal Reserve Board
Federal Reserve Board
A board of Directors comprised of seven members which directs the federal banking system, is appointed by the President of the United States and confirmed by the Senate. The functions of the board include formulating and executing monetary policy, overseeing the Federal Reserve Banks, and regulating and supervising member banks. Monetary policy is implemented through the purchase or sale of securities, and by raising or lowering the discount rate—the interest rate at which banks borrow from the Federal Reserve.
federal reserve board
Eng: federal reserve board
Urdu: وفاقی مَرکزی بورڈ ۔
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