英语词汇“reserve bank”造句的方法、技巧、例句及翻译-英语例句辞典

The bills “were hardly used, so economic activity will not be impacted,” Shaktikanta Das, the governor of India’s reserve bank, told reporters last week. India Is Scrapping Its Largest Bill. The Race Is On to Spend It. 2023-05-31T04:00:00Z

The Fed’s 12 reserve banks — semiprivate institutions dotted across the country — each has a nine-person board of directors, three of whom come from the banking industry. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z

That group includes a mix of staff members from the Fed’s regional reserve banks and its Board of Governors in Washington. Silicon Valley Bank’s Risks Went Deep. Congress Wants to Know Why. 2023-03-28T04:00:00Z

The regional reserve banks, which more closely represented private business interests, would have just five. How the Fed Opened Pandora’s Box 2023-02-25T05:00:00Z

“One source of uncertainty is the outlook for the global economy, which has deteriorated recently,” Philip Lowe, the reserve bank governor, said in his statement. Global Fallout From Rate Moves Won’t Stop the Fed 2022-10-07T04:00:00Z

Designed to remove power over interest rates from the hands of private bankers, the new system created twelve privately owned regional reserve banks regulated by a presidentially appointed Federal Reserve Board. U.S. History 2014-12-30T00:00:00Z

They created a public Fed Board in Washington, alongside quasi-private reserve banks around the country. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z

In addition to the new faces at the seven-person Board of Governors in Washington, several of the Fed’s 12 regional reserve banks are also experiencing personnel changes. Fed Chair Says Bringing Inflation Down Will Take ‘Some Pain’ 2022-05-12T04:00:00Z

They set interest rates to guide the economy alongside 12 regional reserve bank presidents, five of whom hold a vote on monetary policy at any given time. The Senate confirms Philip Jefferson as a Fed governor. 2022-05-11T04:00:00Z

Dallas is one of the Fed system’s 12 regional reserve banks, and bank presidents rotate in and out of four voting positions. Lorie Logan, a Fed veteran, will lead the Dallas Fed. 2022-05-11T04:00:00Z

The Board, known informally as the Fed, regulated the interest rate at which reserve banks loaned or distributed money to other banks around the country. U.S. History 2014-12-30T00:00:00Z

Those reserve banks, which ended up numbering 12 in total, would be set up like private companies with banks as their shareholders. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z

They set interest rates to guide the economy alongside 12 regional reserve bank presidents, five of whom hold a vote at any given time. Lisa Cook is confirmed as a new Fed governor. 2022-05-10T04:00:00Z

Fed governors hold a constant vote on monetary policy, which they set alongside the central bank’s 12 regional reserve bank presidents, who vote on a rotating basis. Senate Confirms Biden Fed Nominee, Lael Brainard, as Vice Chair 2022-04-26T04:00:00Z

Regional Fed presidents are selected by their reserve bank’s board of directors, excluding bank representatives, and are approved by the Fed’s governors in Washington. Lorie Logan, a Fed veteran, will lead the Dallas Fed. 2022-05-11T04:00:00Z

Previously, regional reserve banks, particularly the New York Reserve Bank—controlled by the powerful Morgan and Rockefeller families—had dominated policy-making at the Federal Reserve. U.S. History 2014-12-30T00:00:00Z

Each of the Fed reserve banks has nine board members, or directors. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z

The presidents of the Fed's reserve banks in Chicago and Kansas City, a white man and white woman respectively, will reach their mandatory retirement ages next January. Analysis: A people's Fed? It's starting to at least look that way 2022-01-12T05:00:00Z

Mr. Powell led the organization, while Ms. Brainard headed the committee in charge of reserve bank oversight. A Fed Official’s 2020 Trade Drew Outcry. It Went Further Than First Disclosed. 2022-01-06T05:00:00Z

In the history of the 12 Fed-affiliated regional reserve banks, only one Black person, Raphael Bostic in Atlanta, has been a regional president and CEO. Analysis | The Federal Reserve is overwhelmingly White. Biden is being pushed to appoint Black members to its board. 2021-11-04T04:00:00Z

They will apply to presidents at the 12 reserve banks, governors on the Fed’s seven-seat board in Washington, and senior staff, the Fed said. Fed Unveils Stricter Trading Rules Amid Fallout From Ethics Scandal 2021-10-21T04:00:00Z

The Democratic Party included language in its 2016 platform to bar executives of financial institutions from serving on reserve bank boards. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z

Heads of the 12 regional reserve banks will be required to disclose their transactions within 30 days, bringing them into alignment with rules governing members of the Federal Reserve Board of Governors and senior staff. Factbox: The Fed has new investment rules for officials. What's in them? 2021-10-21T04:00:00Z

Regional reserve banks are quasi-private institutions, so it is not unambiguously clear that they must listen to the Board of Governors on such matters. Fed Ethics Office Warned Officials to Curb Unnecessary Trading During Rescue 2021-10-21T04:00:00Z

But it is unclear why or how that is, with some Fed experts pointing to a series of thorny rules governing the reserve banks. Pressure builds on Fed, Powell over stock trading among top officials as independent probe is underway 2021-10-06T04:00:00Z

The moves paved the way for other reserve banks to act and for governments to approve emergency relief. Review | The other heroes of the coronavirus crisis: Central bankers 2021-10-01T04:00:00Z

Plus, he said, the governors in Washington “will be monitoring this to make sure that each reserve bank board is thinking about this in an open way.” Fed's Bostic says hiring process for regional presidents "has worked well" 2021-09-30T04:00:00Z

Representatives said the regional reserve banks were reviewing Warren’s letter. Analysis-Powell, juggling policy and renomination, now faces an ethics blowup 2021-09-16T04:00:00Z

Powell ordered the review late last week, the spokesperson said, a development that comes on the heelsof recent reports that two of the Fed system's 12 regional reserve bank presidents had been active investors. Fed's Powell orders sweeping ethics review after officials' trading prompts outcry 2021-09-16T04:00:00Z

That has drawn attention to the process through which reserve bank presidents are renominated to new terms. Pressure builds on Fed, Powell over stock trading among top officials as independent probe is underway 2021-10-06T04:00:00Z

The Fed system is made up of a seven-seat board in Washington and 12 regional reserve banks. Fed Officials’ Trading Draws Outcry, and Fuels Calls for Accountability 2021-09-09T04:00:00Z

Then Mary C. Daly, who was the recently promoted president of the reserve bank, had lunch with him. Why Are There So Few Black Economists at the Fed? 2021-02-02T05:00:00Z

Mint and reserve banks to fix the temporary issue. Hang on to your nickels and dimes, the pandemic has created a coin shortage 2020-06-17T04:00:00Z

“There’s something satisfying about walking around with a reserve bank of information that nobody else has, or few people have,” Mr. Lenzner told the Times in 1998. Terry Lenzner, lawyer and investigator who served Nixon subpoenas, dies at 80 2020-04-23T04:00:00Z

It follows a contracted legal battle between her office and South Africa's reserve bank. The corruption fighter surrounded by scandal 2019-07-22T04:00:00Z

Farm incomes in US midwest and mid-southern states continued to decline in the first quarter of 2019, according to banker surveys released this month by regional federal reserve banks. 'We'd love tariffs to stay forever': garlic growers profit in Trump's trade war 2019-05-21T04:00:00Z

The effort started with public gatherings at reserve banks around the country; beginning in the summer, it will continue with closed-door meetings of the Fed’s policy committee. How Will the Fed Fight the Next Recession? It’s Trying to Figure That Out Right Now 2019-04-29T04:00:00Z

“They should certainly be in touch with their reserve bank to report this situation,” Powell responded. Hang on to your nickels and dimes, the pandemic has created a coin shortage 2020-06-17T04:00:00Z

At its height prices were almost doubling every day and the reserve bank printed notes worth 100tn Zimbabwe dollars to try and keep up. Does Zimbabwe have a new currency? 2019-02-26T05:00:00Z

The committee comprises the Fed’s board of governors and a rotating selection of five of the 12 presidents of regional reserve banks. Last Month, Investors Seemed Too Pessimistic. Now, They Seem Prescient. 2019-01-03T05:00:00Z

He is the first African-American to lead any of the Fed’s 12 regional reserve banks in the central bank’s 105-year history. Joyful Headlines About Race and Equality 2018-12-31T05:00:00Z

The Fed also will publish a set of economic projections by the members of the committee, which comprises the Fed’s board of governors and the presidents of the 12 regional reserve banks. The Market Is Worried. The Economy Is Strong. How Will the Fed React? 2018-12-19T05:00:00Z

While the San Francisco Fed has named Mary Daly as its new president, she takes office next week, so Mark Gould, the bank’s operating chief, will represent the regional reserve bank. Federal Reserve Readies Third Interest-Rate Increase of 2018 2018-09-26T04:00:00Z

The Fed’s board oversees the central bank’s work as a financial regulator and, together with the presidents of the Fed’s 12 regional reserve banks, it also charts the course of monetary policy. Trump Picks Expert on Regulation for Federal Reserve Board 2018-09-20T04:00:00Z

Of the Fed’s 12 reserve bank presidents, 10 are white and 10 are male. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z

In contrast, the presidents of the Fed’s 12 regional reserve banks are chosen by the members of the reserve banks’ board of directors, excluding those who work for financial firms regulated by the central bank. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z

The president of the New York Fed, uniquely among the leaders of the 12 regional reserve banks, has a permanent vote on the Fed’s policy-making Open Market Committee and serves as the committee’s vice chairman. A Top Candidate for New York Fed’s Leader: San Francisco’s 2018-03-24T04:00:00Z

Last year, the Atlanta Fed became the first Fed reserve bank to name an African American as its president when it selected Raphael Bostic. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

The report highlights the lag in gender, racial and occupational diversity among the presidents and boards of directors of the regional reserve banks. Leadership at Fed’s regional banks is getting more diverse. But there’s still work to do, report argues. 2018-03-08T05:00:00Z

In contrast, the reserve bank presidents are selected by the members of each reserve bank’s board of directors who don’t represent private banks regulated by the Fed, subject to the Fed governors’ approval. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z

A Fed reserve bank board’s choice then goes to the Fed’s governors for approval. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z

Last month, after the fraud was discovered, the reserve bank set a April 30 deadline for integrating banks’ internal software and SWIFT. Missed warnings: How watchdogs failed to spot $2 billion Indian... 2018-03-05T05:00:00Z

Instead, the members of each reserve bank’s board of directors who don’t represent private banks regulated by the Fed select the leader of the bank, subject to approval by the Fed’s board in Washington. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

Before the 2008 financial crisis, the regional reserve banks exercised significant control over the institutions headquartered in their regions. Jerome Powell Is Sworn In as Federal Reserve Chairman 2018-02-05T05:00:00Z

The New York search officials consulted throughout the process with Mr. Powell, who at the start was a governor and the board’s point person on managing its relationships with the 12 reserve banks. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z

Federal Reserve Bank of Philadelphia President Patrick Harker defended how the central bank’s regional reserve bank presidents are chosen, pushing back against some of the arguments for change. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z

Meanwhile, just two of the 12 reserve banks have female presidents: the Cleveland Fed’s Loretta Mester and the Kansas City Fed’s Esther George. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

The retirement will open the way for new leadership of the system’s largest reserve bank. New York Fed chief Dudley retiring 2017-11-06T05:00:00Z

The meeting account portrayed some of the 12 presidents of regional reserve banks as increasingly eager to raise interest rates. Fed Majority Sees Rate Shift as Gradual, Not Quick 2017-02-22T05:00:00Z

“Most districts indicated a modest or moderate pace of expansion,” according to the Fed’s latest ‘beige book,’ an economic survey by reserve banks. China mostly prevails in complaint against the way U.S. determines anti-dumping duties 2016-10-19T04:00:00Z

Two reserve bank presidents wanted Ms. Yellen to move more quickly to tighten policy, while one dissented in favor of moving more slowly. Fed, With 3 Officials in Dissent, Stands Firm on Interest Rates While Noting Improving Economy 2016-09-21T04:00:00Z

Mr. Powell has served as the Fed board’s point person overseeing the selection of new presidents at reserve banks for the past several years. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

Monetary policy decisions are made by a committee composed of the board and presidents of the regional reserve banks, who are not presidential appointees. Scant Evidence to Support Trump’s Attacks on the Fed 2016-09-27T04:00:00Z

Moreover, the report said that whites composed 83 percent of the directors of the Fed’s 12 regional reserve banks, who select the regional presidents. Fed, Eager to Show It’s Listening, Welcomes Protesters 2016-08-24T04:00:00Z

Atlanta Fed President Dennis Lockhart expressed skepticism about the call for more openness about the selection of regional reserve bank chiefs. Fed Officials to Meet With Activists Ahead of Jackson Hole Conference 2016-08-24T04:00:00Z

Again, trying to put more public control on these sort of quasi-private reserve banks. What's Next for the Fed? 2016-07-28T04:00:00Z

The president of the New York Fed, one of 12 regional reserve banks, has a permanent vote on the central bank’s rate-setting Federal Open Market Committee and serves as its vice chair. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

At issue is the role played by private banks in the Fed’s 12 regional reserve banks, which supervise financial institutions, provide financial services and participate in the central bank’s monetary policy-making. Fed Officials Push Back Against Calls to Overhaul Central Bank’s Structure 2016-07-24T04:00:00Z

Democratic presidential candidates Hillary Clinton and Bernie Sanders support removing bankers from the board of directors of the Fed's reserve banks. Top Fed official: ‘The case for raising rates looks pretty strong.’ 2016-05-16T04:00:00Z

However, they are not allowed to participate in choosing reserve bank presidents — the officials who would be responsible for setting the nation’s monetary policy. Hillary Clinton to support Federal Reserve change sought by liberals 2016-05-12T04:00:00Z

The push from the Democrats seems to be to impose far more public control on the Fed and to limit these corners where private industries have some say in how the reserve banks are run. What's Next for the Fed? 2016-07-28T04:00:00Z

He has been more involved in the New York Fed’s presidential search than other recent reserve bank executive searches, according to people familiar with the matter. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z

Last month, the Supreme Court directed the reserve bank to disclose the list of defaulters holding more than $75 million in debt. Big debt by some wealthy borrowers in India sparks outcry, especially when the good times roll 2016-03-14T04:00:00Z

The Boston Fed in October joined the majority of regional reserve banks in requesting an increase in the discount rate, while the Minneapolis Fed continued to request a rate cut to 0.5%. Most Fed Regional Banks Wanted Discount-Rate Hike in October: Minutes 2015-11-24T05:00:00Z

They were his first public comments about the economy since taking leadership of the regional reserve bank earlier this year. Fed Tipping Toward December Rate Hike, Minutes Show 2015-11-19T05:00:00Z

Sparks is the reserve bank’s assistant vice president and community development officer and serves on numerous boards in the St. Louis area. The Latest: Graduate students say demands not fulfilled 2015-11-13T05:00:00Z

Mr. Kashkari is the third new president of a regional reserve bank named this year, and all three of the men previously worked at Goldman Sachs. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z

Membership is voluntary for most banks; those that join must buy shares in the local reserve bank and get a 6 percent annual dividend. Congress Split on Tapping Fed or Banks to Fund Roads 2015-11-05T05:00:00Z

Moreover, each of the reserve banks was obligated to redeem dollars for gold at a fixed price in unlimited amounts. Competition for the Fed’s Money Monopoly 2015-11-01T04:00:00Z

In June 1913, President Woodrow Wilson, whose contribution was to insist on a powerful board in Washington that would oversee the proposed network of regional reserve banks, presented his plan. The horesetrading that gave birth to the Federal Reserve 2015-10-29T04:00:00Z

Thus, the Fed was designed with 12 reserve banks and a central board in Washington. The Central Bank Skeptic Who Helped Give Birth to the Fed 2015-10-24T04:00:00Z

The presidents of the Fed’s 12 regional reserve banks participate in the regular meetings of the Fed’s monetary policy committee. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z

And that led to things like demonstrators at the reserve banks and at testimonies. Why Ben Bernanke Still Believes in Wall Street 2015-10-06T04:00:00Z

The first Fed officials to speak were the heads of the reserve banks of San Francisco, St. Louis and Richmond. These Fed officials think interest rates could still rise this year 2015-09-21T04:00:00Z

The Fed consists of 12 reserve banks headquartered across the country and a seven-member board of governors based in Washington. Here is the newest face at the Federal Reserve 2015-08-17T04:00:00Z

The presidents of the Fed’s 12 regional reserve banks vote on a rotating basis, and the Dallas Fed does not hold a vote until 2017. Former Goldman Executive Is Chosen to Lead Dallas Fed 2015-08-17T04:00:00Z

The regional reserve banks also oversee commercial banks in their districts, help to operate the financial system and produce economic research. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z

The boards of the regional reserve banks are typically populated by bank executives, and so are often seen as insufficiently independent. The Tarullo show 2015-08-06T04:00:00Z

The Fed system comprises the seven-member Board of Governors, based in Washington, and 12 regional reserve banks based around the country. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z

No governor has cast a dissenting vote in nearly a decade, according to an analysis by St. Louis Fed economists, while the presidents of regional reserve banks frequently dissent. Senate Panel Chief in No Rush on Fed Nominees 2015-07-21T04:00:00Z

There have also been suggestions of a relationship with the governor of the reserve bank, which she has publicly denied. Don’t mess with Grace Mugabe – she could be the next president of Zimbabwe | David Smith 2015-07-15T04:00:00Z

The act also removed the Treasury secretary from the Fed’s board and created a new policy-making committee where board members would outnumber reserve bank presidents. America’s Endless War Over Money 2015-04-07T04:00:00Z

Republicans want to strengthen the independence of the Fed’s regional reserve banks, whose presidents participate in monetary policy decisions, while Democrats want to strengthen the federal government’s control. In Republican Attacks on the Fed, Experts See a Shift 2015-04-07T04:00:00Z

The reserve banks serve as the operating arms of the Fed, supervising banks and providing a variety of financial services, among other things. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z

On one side were the reserve bank presidents who wanted to throw anything and everything at the crisis. At the Fed in 2009, Rolling the Dice in a Crisis 2015-03-07T05:00:00Z

As one of the 12 presidents of the Fed’s regional reserve banks, Mr. Harker will participate in the regular meetings of the Fed’s monetary policy committee. Philadelphia Fed Picks Patrick Harker, University of Delaware President, to Lead It 2015-03-02T05:00:00Z

The Federal Open Market Committee – which sets interest rates and is made up of seven board members and a rotating cast of reserve bank presidents – is next scheduled to meet in March, April and June. Interest Rates, Transparency Concerns Weigh on Janet Yellen's Congressional Testimony 2015-02-24T05:00:00Z

The Dodd-Frank Act – the financial reform law signed by the president in 2010 – already eliminated the right of the bankers on reserve bank boards to appoint reserve bank presidents. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

The Fed’s regional reserve banks pay dividends on the stock to the member banks. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z

Wednesday was Mr. Kocherlakota’s last vote on monetary policy -- the presidents of most reserve banks vote every third year, and Mr. Kocherlakota said earlier this month he would step down in February 2016. Fed Dissenter Warns Against Hasty Interest Rate Increase 2014-12-19T05:00:00Z

The reserve banks also help to operate the plumbing of the financial system, including the distribution of currency. Philadelphia Fed Picks Patrick Harker, University of Delaware President, to Lead It 2015-03-02T05:00:00Z

They will be replaced by other presidents of reserve banks. Federal Reserve Says It Will Be ‘Patient’ on Interest Rate Timing 2014-12-17T05:00:00Z

From that, the reserve banks paid almost $80 billion in interest on Federal Reserve notes back to the U.S. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

Their replacements will be selected by the board of each reserve bank. As Federal Reserve Selects New Top Officials, Coalition Calls for Public Input 2014-11-10T05:00:00Z

The board, which comprises the governors based in Washington but not the presidents of the regional reserve banks, held a similar meeting in April. Fed Sees Slower Growth, but Maintains Plans to Trim Stimulus 2014-06-18T04:00:00Z

All Fed governors serve on the policymaking Federal Open Market Committee, along with five of the 12 regional reserve bank presidents. Senate confirms Brainard, Powell for Fed seats, Fischer as vice chair 2014-06-12T04:00:00Z

The Fed’s new chairman, Arthur F. Burns, did not want to hear the reports on regional economic conditions delivered by the presidents of the 12 reserve banks at each meeting of the Fed’s policy-making committee. No Need to Read the Fed’s Beige Book if You Read This Instead 2014-06-04T04:00:00Z

You might then think of each reserve bank as a corporation that pays a high tax rate. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

In letters sent to Fed officials last week, the coalition called for the central bank to let the public participate in choosing new presidents for the regional reserve banks in Philadelphia and Dallas. As Federal Reserve Selects New Top Officials, Coalition Calls for Public Input 2014-11-10T05:00:00Z

The views of the policymakers that head the Fed's 12 regional reserve banks are sometimes at odds with those of the Fed chair in Washington. Fed chair vows to 'do all that I can' to boost weak U.S. economy 2014-03-06T04:31:53Z

Three of the regional reserve banks want to raise interest rates. Fed’s Actions in 2008: What the Transcripts Reveal 2014-02-21T18:55:51Z

Perhaps the best defense of the Beige Book is that the reporting process itself is valuable for the regional reserve banks, informing their assessments of local conditions. No Need to Read the Fed’s Beige Book if You Read This Instead 2014-06-04T04:00:00Z

Consider that the New York Fed, like the other 11 reserve banks in the Federal Reserve System, operates in many ways like a regulated private banking corporation. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

Several reserve bank presidents are already grumbling about the Fed’s leisurely schedule. The economy: Is this the year growth takes off? 2014-01-09T16:00:03Z

His solution was to propose privately owned regional reserve banks that would be new centers of banking strength, away from Wall Street. Hindsight: The Federal Reserve’s Framers Would Be Shocked 2013-06-22T17:43:11Z

Smaller banks lobbied to keep the Fed’s 12 regional reserve banks as their regulator, making a populist case that the arrangement was a counterweight to dominance by Washington and New York. Off the Shelf: ‘Alchemists’ Looks at Central Bankers’ Handling of Crisis 2013-05-04T20:29:39Z

At inception, the Federal Reserve System comprised 12 reserve banks – each responsible for its own "district" – and a Federal Reserve Board in Washington, DC. The risk Jamie Dimon poses to the Federal Reserve System's legitimacy 2012-06-18T16:22:17Z

Each reserve bank is a “banker’s” bank, providing loans through the discount window, deposits for banks called “reserves,” and check clearing services; they hold U.S. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

Federal Reserve consists of a board of governors, which is an agency independent of the executive, and 12 regional reserve banks. SNB Successor May Escape Wrath Shareholders Heaped on Hildebrand 2012-01-23T12:03:54Z

He also has important duties in connection with the management of the federal reserve banks. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z

One Dodd proposal would have required presidential appointees, rather than each bank’s board of directors, to select the 12 reserve bank presidents, including the powerful New York Fed president, but that idea went nowhere. Off the Shelf: ‘Alchemists’ Looks at Central Bankers’ Handling of Crisis 2013-05-04T20:29:39Z

Most are done electronically through the reserve banks’ automated clearing house. Treasury May Adopt ‘Risky’ Payment Plan as U.S. Deadline Nears 2011-07-29T10:55:47Z

Finally, the New York Fed, like other reserve banks, also regulates its clients through bank examinations, in some ways like the way a bank examines its customers. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z

“The market has priced in a cut from the reserve bank,” Key said in an interview today in Wellington. Key Says Would Welcome New Zealand Interest Rate Cut 2011-03-02T02:04:07Z

Federal reserve banks are under the supervision and control of a federal reserve board consisting of the secretary of the treasury, the comptroller of the currency, and five other members appointed by the President. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z

Before LISCC's creation, the Fed's 12 reserve banks handled much of the day-to-day supervision of big banks and reported back to the Board of Governors in Washington, which sets the rules for bank holding companies. The Fed's A-Team Hunts for Signs of Risk 2011-02-17T22:00:00Z

In those cities where rates of interest on clearing-house certificates were very high, the reserve banks aided in the retirement of the certificates remaining in circulation. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The Fed Board of Governors works closely with reserve banks in its oversight of the largest bank-holding companies. Fed’s Dudley Scheduled Meetings With Wall Street, Global Chiefs 2010-12-30T00:31:26Z

“That would probably be my expectation, that the reserve bank would cut.” Key Says Would Welcome New Zealand Interest Rate Cut 2011-03-02T02:04:07Z

Federal Reserve Banks.—By an important act passed in 1913 Congress provided for the creation of a series of federal reserve banks to be located in different parts of the country. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z

The already gloomy mood was compounded when the Philadelphia Fed, one of the Federal Reserve's 12 regional reserve banks, published its monthly health check on manufacturing in America's mid-Atlantic region. US unemployment figures increase fears of double-dip recession 2010-08-19T18:32:00Z

The board will immediately notify the federal reserve bank of the receipt of such notice. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Fed-supervised banks will lose any say in the governance of the reserve banks. Central banks under scrutiny (2): Prometheus bound 2010-05-20T13:25:00Z

Besides Bernanke, presidents of some of those reserve banks are also becoming increasingly vocal about the possibility of losing their role overseeing small and mid-size banks. Bernanke makes case for Fed to keep authority over small banks 2010-03-20T16:30:00Z

During the previous Administration Senator Aldrich's plan for a centralized reserve bank had been widely discussed, and innumerable modifications had been suggested. Woodrow Wilson's Administration and Achievements

I do not know enough about our own reserve bank law to form an opinion. The Life and Letters of Walter H. Page, Volume II

Eastern bankers possessing these six-month notes will probably find them readily rediscountable with the local federal reserve bank at any time up to maturity. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

"I see New York did considerable begging for one of those reserve banks." More Toasts

Two kinds of banks are chartered by the national government: the national banks and the federal reserve banks. Elements of Civil Government

Under the Federal Reserve Act the reserve banks are in various ways assuming the functions of the correspondent banks. Modern Economic Problems Economics Volume II

Each local bank is required to keep certain prescribed balances in the reserve bank of its district, and the federal government may also deposit funds in it. The United States Since the Civil War

In sorting notes it is necessary to be able readily to distinguish between notes of this bank and notes of other reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

It was approved by the officials of the Treasury Department, and I understand such an extension has been approved by a majority of the governors of the Federal reserve banks. State of the Union Address

Each federal reserve bank is a large central bank organized by the banks of a certain district. Elements of Civil Government

The twelve Federal reserve banks which opened for business November 16, 1914, are of a type of institution new in our financial history. Modern Economic Problems Economics Volume II

The federal reserve bank shall, however, give a receipt for the stock surrendered. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The reserve bank and the market rate for the discount of such bills in New York has been for nearly a year, and is now, lower than the rate for similar bills in London. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

No one fears the loss of the funds which may be subscribed to the capital stock of the federal reserve banks or placed on deposit with them. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

A greater variety of occupations in large areas will lessen, though not much, extremes of seasonal variation in demands for accommodation upon the federal reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Each reserve bank has nine directors, consisting of three classes of three men each. Modern Economic Problems Economics Volume II

They must hold 6/18 of their reserve in vault, 7/18 in their Federal Reserve Bank, and the remaining 5/18 either in vault or with their federal reserve bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

It also lessens somewhat the danger of unnecessary withdrawals of funds from the reserve banks in emergencies. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

On note reserve deficiencies, the tax imposed in the law is to be added to the rate of discount of the reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

In the operation of the new system, the boards of directors of the reserve banks may prove the most important part of the organization; or that place may be occupied by the Federal Reserve Board. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Establish accounts with other Federal reserve banks and with banks in foreign countries or establish foreign branches. h. Modern Economic Problems Economics Volume II

What the reserve bank does in accumulating gold behind its Federal Reserve notes is to establish with the holder of each note a credit which may be availed of whenever the occasion requires. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The Board is to exercise many supervisory functions over the reserve banks which are similar to those which have long been exercised by the Comptroller of the Currency over the national banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The development of a more satisfied relationship requires progress on the part of the reserve bank and a willingness to co-operate on the part of the country banker. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

At the reserve bank they may borrow as a standing right and not as a favor which may be cut off. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

No notes, it will be observed, are issued by or on request of the member banks, but only on request of a Federal reserve bank. Modern Economic Problems Economics Volume II

The experience of banks in using the forms provided by the reserve bank to get statements from their borrowers is evidence of this. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

All member banks and all reserve banks must receive these notes; and the reserve banks will probably have branches within easy reach of any part of the district. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

All national banks are required, and qualified state banking institutions are invited, to subscribe to the capital of the reserve bank in their district. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Additional legislation would be necessary, and the possibility of such legislation is not appreciably increased by making the notes which are to be issued by the reserve banks an obligation of the Government. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

This tax must be paid by the reserve bank, but it must add an amount equal to the tax to the rates of interest and discount charged to member banks. Modern Economic Problems Economics Volume II

The reserve banks, in turn, are required under the law to return for redemption the notes issued by other reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Few of them, as yet, conceive of the reserve bank as their active reserve agent, performing all the services which go with the relationship. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

He will know that if he needs money to accommodate the bank's customers he can, as a matter of right, call on his federal reserve bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

That is, any reserve bank desiring to contract its note obligations may at its discretion deposit with the federal reserve agent reserve notes, gold, or lawful money. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The effect of these rules is to give a power of note issue in time of emergency without compelling the reserve banks to lock up their reserves held against notes. Modern Economic Problems Economics Volume II

The dormant accounts most of the banks maintain with the reserve bank are, perhaps, indicative of their attitude toward it. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The reserve bank should organize a complete collection system embracing the handling of notes, drafts, and items on non-member banks, which eventually will bring all the members into daily active relations with the bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

That means that the Bluefield bank receiving the check on the Columbia, S. C., bank mails it to the federal reserve bank at Richmond. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The federal reserve bank at Richmond thereupon charges the Columbia bank with the amount of the check, credits the Bluefield bank with the proceeds, and notifies the two banks accordingly. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Every Federal reserve bank shall, under normal conditions, maintain reserves in lawful money of not less than 35 per cent against its deposits. Modern Economic Problems Economics Volume II

Whatever might be true in panicky times, it seems certain that in an ordinary year the gold holdings of a reserve bank will be much above 40 per cent. of its note issue. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The opening of the reserve banks released, as already shown, a large amount of bank funds, and thereby rendered it possible to extend many loans which otherwise could not have been carried by the banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

As between the reserve banks of the different districts, however, this particular motive will, of course, be more or less in evidence, since these reserve banks will all be competitors for this opportunity. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

It is the plain conception of the Act that the reserve banks should, to a very large extent, if not entirely, perform the work that is now being done by correspondent banks in this respect. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

The new rule requires that one-third must be in the bank's own possession, a fraction slightly over a third must be in the Federal reserve bank, and the remainder may be kept in either place. Modern Economic Problems Economics Volume II

The processes provided by the act for the issue of Federal Reserve notes to the reserve bank permit complete interchangeability between gold and rediscounts held by the agent. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

This condition of affairs made it certain that the reserve banks, upon their organization, would not be instantly pressed for the issue of reserve notes. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

For violations of law, it may suspend the operation of a reserve bank, and administer or liquidate it. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Supplementing a negative control by the bank examiners, who are powerless so long as the letter of the law is observed, the federal reserve banks will be a great positive force. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

And, in turn, every member bank will now be able at such times to rediscount such paper and thus secure credit toward its reserve requirement on the books of its Federal reserve bank. Modern Economic Problems Economics Volume II

Member banks will certainly deposit the notes with their own reserve banks, which are required to accept the notes of other banks at par. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

At least once in each three months an audit shall be made of the gold settlement fund by a representative of the Federal Reserve Board and representative appointed by the federal reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Shareholders in the reserve banks are entitled to a cumulative dividend of 6 per cent. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Whether these changes in reserves, together with payments by the banks of subscriptions to the capital stock of the reserve banks, will make necessary any considerable amount of loan contraction, cannot be precisely determined. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Further on the notes are spoken of as "issued to" a Federal reserve bank, and again as "issued through" a Federal reserve bank, but not by it. Modern Economic Problems Economics Volume II

Each federal reserve bank shall count as a part of its legal reserve the funds standing to the credit of its account on the books of the gold settlement fund. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Upon the organization of the federal reserve banks, moreover, the urgent pressure for note accommodation passed away as quickly as it had come. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

Against the $1,125 deposited with it the central reserve bank is required to hold only 25 per cent. of reserves—$281.25. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z

单词	reserve bank
例句	reserve bank The bills “were hardly used, so economic activity will not be impacted,” Shaktikanta Das, the governor of India’s reserve bank, told reporters last week. India Is Scrapping Its Largest Bill. The Race Is On to Spend It. 2023-05-31T04:00:00Z The Fed’s 12 reserve banks — semiprivate institutions dotted across the country — each has a nine-person board of directors, three of whom come from the banking industry. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z That group includes a mix of staff members from the Fed’s regional reserve banks and its Board of Governors in Washington. Silicon Valley Bank’s Risks Went Deep. Congress Wants to Know Why. 2023-03-28T04:00:00Z The regional reserve banks, which more closely represented private business interests, would have just five. How the Fed Opened Pandora’s Box 2023-02-25T05:00:00Z “One source of uncertainty is the outlook for the global economy, which has deteriorated recently,” Philip Lowe, the reserve bank governor, said in his statement. Global Fallout From Rate Moves Won’t Stop the Fed 2022-10-07T04:00:00Z Designed to remove power over interest rates from the hands of private bankers, the new system created twelve privately owned regional reserve banks regulated by a presidentially appointed Federal Reserve Board. U.S. History 2014-12-30T00:00:00Z They created a public Fed Board in Washington, alongside quasi-private reserve banks around the country. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z In addition to the new faces at the seven-person Board of Governors in Washington, several of the Fed’s 12 regional reserve banks are also experiencing personnel changes. Fed Chair Says Bringing Inflation Down Will Take ‘Some Pain’ 2022-05-12T04:00:00Z They set interest rates to guide the economy alongside 12 regional reserve bank presidents, five of whom hold a vote on monetary policy at any given time. The Senate confirms Philip Jefferson as a Fed governor. 2022-05-11T04:00:00Z Dallas is one of the Fed system’s 12 regional reserve banks, and bank presidents rotate in and out of four voting positions. Lorie Logan, a Fed veteran, will lead the Dallas Fed. 2022-05-11T04:00:00Z The Board, known informally as the Fed, regulated the interest rate at which reserve banks loaned or distributed money to other banks around the country. U.S. History 2014-12-30T00:00:00Z Those reserve banks, which ended up numbering 12 in total, would be set up like private companies with banks as their shareholders. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z They set interest rates to guide the economy alongside 12 regional reserve bank presidents, five of whom hold a vote at any given time. Lisa Cook is confirmed as a new Fed governor. 2022-05-10T04:00:00Z Fed governors hold a constant vote on monetary policy, which they set alongside the central bank’s 12 regional reserve bank presidents, who vote on a rotating basis. Senate Confirms Biden Fed Nominee, Lael Brainard, as Vice Chair 2022-04-26T04:00:00Z Regional Fed presidents are selected by their reserve bank’s board of directors, excluding bank representatives, and are approved by the Fed’s governors in Washington. Lorie Logan, a Fed veteran, will lead the Dallas Fed. 2022-05-11T04:00:00Z Previously, regional reserve banks, particularly the New York Reserve Bank—controlled by the powerful Morgan and Rockefeller families—had dominated policy-making at the Federal Reserve. U.S. History 2014-12-30T00:00:00Z Each of the Fed reserve banks has nine board members, or directors. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z The presidents of the Fed's reserve banks in Chicago and Kansas City, a white man and white woman respectively, will reach their mandatory retirement ages next January. Analysis: A people's Fed? It's starting to at least look that way 2022-01-12T05:00:00Z Mr. Powell led the organization, while Ms. Brainard headed the committee in charge of reserve bank oversight. A Fed Official’s 2020 Trade Drew Outcry. It Went Further Than First Disclosed. 2022-01-06T05:00:00Z In the history of the 12 Fed-affiliated regional reserve banks, only one Black person, Raphael Bostic in Atlanta, has been a regional president and CEO. Analysis \| The Federal Reserve is overwhelmingly White. Biden is being pushed to appoint Black members to its board. 2021-11-04T04:00:00Z They will apply to presidents at the 12 reserve banks, governors on the Fed’s seven-seat board in Washington, and senior staff, the Fed said. Fed Unveils Stricter Trading Rules Amid Fallout From Ethics Scandal 2021-10-21T04:00:00Z The Democratic Party included language in its 2016 platform to bar executives of financial institutions from serving on reserve bank boards. San Francisco Fed Ties to S.V.B. Chief Attracts Scrutiny to Century-Old Setup 2023-05-15T04:00:00Z Heads of the 12 regional reserve banks will be required to disclose their transactions within 30 days, bringing them into alignment with rules governing members of the Federal Reserve Board of Governors and senior staff. Factbox: The Fed has new investment rules for officials. What's in them? 2021-10-21T04:00:00Z Regional reserve banks are quasi-private institutions, so it is not unambiguously clear that they must listen to the Board of Governors on such matters. Fed Ethics Office Warned Officials to Curb Unnecessary Trading During Rescue 2021-10-21T04:00:00Z But it is unclear why or how that is, with some Fed experts pointing to a series of thorny rules governing the reserve banks. Pressure builds on Fed, Powell over stock trading among top officials as independent probe is underway 2021-10-06T04:00:00Z The moves paved the way for other reserve banks to act and for governments to approve emergency relief. Review \| The other heroes of the coronavirus crisis: Central bankers 2021-10-01T04:00:00Z Plus, he said, the governors in Washington “will be monitoring this to make sure that each reserve bank board is thinking about this in an open way.” Fed's Bostic says hiring process for regional presidents "has worked well" 2021-09-30T04:00:00Z Representatives said the regional reserve banks were reviewing Warren’s letter. Analysis-Powell, juggling policy and renomination, now faces an ethics blowup 2021-09-16T04:00:00Z Powell ordered the review late last week, the spokesperson said, a development that comes on the heelsof recent reports that two of the Fed system's 12 regional reserve bank presidents had been active investors. Fed's Powell orders sweeping ethics review after officials' trading prompts outcry 2021-09-16T04:00:00Z That has drawn attention to the process through which reserve bank presidents are renominated to new terms. Pressure builds on Fed, Powell over stock trading among top officials as independent probe is underway 2021-10-06T04:00:00Z The Fed system is made up of a seven-seat board in Washington and 12 regional reserve banks. Fed Officials’ Trading Draws Outcry, and Fuels Calls for Accountability 2021-09-09T04:00:00Z Then Mary C. Daly, who was the recently promoted president of the reserve bank, had lunch with him. Why Are There So Few Black Economists at the Fed? 2021-02-02T05:00:00Z Mint and reserve banks to fix the temporary issue. Hang on to your nickels and dimes, the pandemic has created a coin shortage 2020-06-17T04:00:00Z “There’s something satisfying about walking around with a reserve bank of information that nobody else has, or few people have,” Mr. Lenzner told the Times in 1998. Terry Lenzner, lawyer and investigator who served Nixon subpoenas, dies at 80 2020-04-23T04:00:00Z It follows a contracted legal battle between her office and South Africa's reserve bank. The corruption fighter surrounded by scandal 2019-07-22T04:00:00Z Farm incomes in US midwest and mid-southern states continued to decline in the first quarter of 2019, according to banker surveys released this month by regional federal reserve banks. 'We'd love tariffs to stay forever': garlic growers profit in Trump's trade war 2019-05-21T04:00:00Z The effort started with public gatherings at reserve banks around the country; beginning in the summer, it will continue with closed-door meetings of the Fed’s policy committee. How Will the Fed Fight the Next Recession? It’s Trying to Figure That Out Right Now 2019-04-29T04:00:00Z “They should certainly be in touch with their reserve bank to report this situation,” Powell responded. Hang on to your nickels and dimes, the pandemic has created a coin shortage 2020-06-17T04:00:00Z At its height prices were almost doubling every day and the reserve bank printed notes worth 100tn Zimbabwe dollars to try and keep up. Does Zimbabwe have a new currency? 2019-02-26T05:00:00Z The committee comprises the Fed’s board of governors and a rotating selection of five of the 12 presidents of regional reserve banks. Last Month, Investors Seemed Too Pessimistic. Now, They Seem Prescient. 2019-01-03T05:00:00Z He is the first African-American to lead any of the Fed’s 12 regional reserve banks in the central bank’s 105-year history. Joyful Headlines About Race and Equality 2018-12-31T05:00:00Z The Fed also will publish a set of economic projections by the members of the committee, which comprises the Fed’s board of governors and the presidents of the 12 regional reserve banks. The Market Is Worried. The Economy Is Strong. How Will the Fed React? 2018-12-19T05:00:00Z While the San Francisco Fed has named Mary Daly as its new president, she takes office next week, so Mark Gould, the bank’s operating chief, will represent the regional reserve bank. Federal Reserve Readies Third Interest-Rate Increase of 2018 2018-09-26T04:00:00Z The Fed’s board oversees the central bank’s work as a financial regulator and, together with the presidents of the Fed’s 12 regional reserve banks, it also charts the course of monetary policy. Trump Picks Expert on Regulation for Federal Reserve Board 2018-09-20T04:00:00Z Of the Fed’s 12 reserve bank presidents, 10 are white and 10 are male. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z In contrast, the presidents of the Fed’s 12 regional reserve banks are chosen by the members of the reserve banks’ board of directors, excluding those who work for financial firms regulated by the central bank. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z The president of the New York Fed, uniquely among the leaders of the 12 regional reserve banks, has a permanent vote on the Fed’s policy-making Open Market Committee and serves as the committee’s vice chairman. A Top Candidate for New York Fed’s Leader: San Francisco’s 2018-03-24T04:00:00Z Last year, the Atlanta Fed became the first Fed reserve bank to name an African American as its president when it selected Raphael Bostic. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z The report highlights the lag in gender, racial and occupational diversity among the presidents and boards of directors of the regional reserve banks. Leadership at Fed’s regional banks is getting more diverse. But there’s still work to do, report argues. 2018-03-08T05:00:00Z In contrast, the reserve bank presidents are selected by the members of each reserve bank’s board of directors who don’t represent private banks regulated by the Fed, subject to the Fed governors’ approval. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z A Fed reserve bank board’s choice then goes to the Fed’s governors for approval. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z Last month, after the fraud was discovered, the reserve bank set a April 30 deadline for integrating banks’ internal software and SWIFT. Missed warnings: How watchdogs failed to spot $2 billion Indian... 2018-03-05T05:00:00Z Instead, the members of each reserve bank’s board of directors who don’t represent private banks regulated by the Fed select the leader of the bank, subject to approval by the Fed’s board in Washington. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z Before the 2008 financial crisis, the regional reserve banks exercised significant control over the institutions headquartered in their regions. Jerome Powell Is Sworn In as Federal Reserve Chairman 2018-02-05T05:00:00Z The New York search officials consulted throughout the process with Mr. Powell, who at the start was a governor and the board’s point person on managing its relationships with the 12 reserve banks. How the New York Fed, Prizing Diversity, Elevated an Insider as Its Next President 2018-04-03T04:00:00Z Federal Reserve Bank of Philadelphia President Patrick Harker defended how the central bank’s regional reserve bank presidents are chosen, pushing back against some of the arguments for change. Fed’s Harker Defends Regional Fed Chief Hiring Process 2018-03-29T04:00:00Z Last month, after the fraud was discovered, the reserve bank set a April 30 deadline for integrating banks’ internal software and SWIFT. Missed warnings: How watchdogs failed to spot $2 billion Indian... 2018-03-05T05:00:00Z Meanwhile, just two of the 12 reserve banks have female presidents: the Cleveland Fed’s Loretta Mester and the Kansas City Fed’s Esther George. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z The retirement will open the way for new leadership of the system’s largest reserve bank. New York Fed chief Dudley retiring 2017-11-06T05:00:00Z The meeting account portrayed some of the 12 presidents of regional reserve banks as increasingly eager to raise interest rates. Fed Majority Sees Rate Shift as Gradual, Not Quick 2017-02-22T05:00:00Z “Most districts indicated a modest or moderate pace of expansion,” according to the Fed’s latest ‘beige book,’ an economic survey by reserve banks. China mostly prevails in complaint against the way U.S. determines anti-dumping duties 2016-10-19T04:00:00Z Two reserve bank presidents wanted Ms. Yellen to move more quickly to tighten policy, while one dissented in favor of moving more slowly. Fed, With 3 Officials in Dissent, Stands Firm on Interest Rates While Noting Improving Economy 2016-09-21T04:00:00Z Mr. Powell has served as the Fed board’s point person overseeing the selection of new presidents at reserve banks for the past several years. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z Monetary policy decisions are made by a committee composed of the board and presidents of the regional reserve banks, who are not presidential appointees. Scant Evidence to Support Trump’s Attacks on the Fed 2016-09-27T04:00:00Z Moreover, the report said that whites composed 83 percent of the directors of the Fed’s 12 regional reserve banks, who select the regional presidents. Fed, Eager to Show It’s Listening, Welcomes Protesters 2016-08-24T04:00:00Z Atlanta Fed President Dennis Lockhart expressed skepticism about the call for more openness about the selection of regional reserve bank chiefs. Fed Officials to Meet With Activists Ahead of Jackson Hole Conference 2016-08-24T04:00:00Z Again, trying to put more public control on these sort of quasi-private reserve banks. What's Next for the Fed? 2016-07-28T04:00:00Z The president of the New York Fed, one of 12 regional reserve banks, has a permanent vote on the central bank’s rate-setting Federal Open Market Committee and serves as its vice chair. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z At issue is the role played by private banks in the Fed’s 12 regional reserve banks, which supervise financial institutions, provide financial services and participate in the central bank’s monetary policy-making. Fed Officials Push Back Against Calls to Overhaul Central Bank’s Structure 2016-07-24T04:00:00Z Democratic presidential candidates Hillary Clinton and Bernie Sanders support removing bankers from the board of directors of the Fed's reserve banks. Top Fed official: ‘The case for raising rates looks pretty strong.’ 2016-05-16T04:00:00Z However, they are not allowed to participate in choosing reserve bank presidents — the officials who would be responsible for setting the nation’s monetary policy. Hillary Clinton to support Federal Reserve change sought by liberals 2016-05-12T04:00:00Z The push from the Democrats seems to be to impose far more public control on the Fed and to limit these corners where private industries have some say in how the reserve banks are run. What's Next for the Fed? 2016-07-28T04:00:00Z He has been more involved in the New York Fed’s presidential search than other recent reserve bank executive searches, according to people familiar with the matter. San Francisco Fed’s John Williams Is Front Runner to Serve as New York Fed President 2018-03-24T04:00:00Z Last month, the Supreme Court directed the reserve bank to disclose the list of defaulters holding more than $75 million in debt. Big debt by some wealthy borrowers in India sparks outcry, especially when the good times roll 2016-03-14T04:00:00Z The Boston Fed in October joined the majority of regional reserve banks in requesting an increase in the discount rate, while the Minneapolis Fed continued to request a rate cut to 0.5%. Most Fed Regional Banks Wanted Discount-Rate Hike in October: Minutes 2015-11-24T05:00:00Z They were his first public comments about the economy since taking leadership of the regional reserve bank earlier this year. Fed Tipping Toward December Rate Hike, Minutes Show 2015-11-19T05:00:00Z Sparks is the reserve bank’s assistant vice president and community development officer and serves on numerous boards in the St. Louis area. The Latest: Graduate students say demands not fulfilled 2015-11-13T05:00:00Z Mr. Kashkari is the third new president of a regional reserve bank named this year, and all three of the men previously worked at Goldman Sachs. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z Membership is voluntary for most banks; those that join must buy shares in the local reserve bank and get a 6 percent annual dividend. Congress Split on Tapping Fed or Banks to Fund Roads 2015-11-05T05:00:00Z Moreover, each of the reserve banks was obligated to redeem dollars for gold at a fixed price in unlimited amounts. Competition for the Fed’s Money Monopoly 2015-11-01T04:00:00Z In June 1913, President Woodrow Wilson, whose contribution was to insist on a powerful board in Washington that would oversee the proposed network of regional reserve banks, presented his plan. The horesetrading that gave birth to the Federal Reserve 2015-10-29T04:00:00Z Thus, the Fed was designed with 12 reserve banks and a central board in Washington. The Central Bank Skeptic Who Helped Give Birth to the Fed 2015-10-24T04:00:00Z The presidents of the Fed’s 12 regional reserve banks participate in the regular meetings of the Fed’s monetary policy committee. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z And that led to things like demonstrators at the reserve banks and at testimonies. Why Ben Bernanke Still Believes in Wall Street 2015-10-06T04:00:00Z The first Fed officials to speak were the heads of the reserve banks of San Francisco, St. Louis and Richmond. These Fed officials think interest rates could still rise this year 2015-09-21T04:00:00Z The Fed consists of 12 reserve banks headquartered across the country and a seven-member board of governors based in Washington. Here is the newest face at the Federal Reserve 2015-08-17T04:00:00Z The presidents of the Fed’s 12 regional reserve banks vote on a rotating basis, and the Dallas Fed does not hold a vote until 2017. Former Goldman Executive Is Chosen to Lead Dallas Fed 2015-08-17T04:00:00Z The regional reserve banks also oversee commercial banks in their districts, help to operate the financial system and produce economic research. Ex-Treasury Official Kashkari Named Minneapolis Fed President 2015-11-10T05:00:00Z The boards of the regional reserve banks are typically populated by bank executives, and so are often seen as insufficiently independent. The Tarullo show 2015-08-06T04:00:00Z The Fed system comprises the seven-member Board of Governors, based in Washington, and 12 regional reserve banks based around the country. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z No governor has cast a dissenting vote in nearly a decade, according to an analysis by St. Louis Fed economists, while the presidents of regional reserve banks frequently dissent. Senate Panel Chief in No Rush on Fed Nominees 2015-07-21T04:00:00Z There have also been suggestions of a relationship with the governor of the reserve bank, which she has publicly denied. Don’t mess with Grace Mugabe – she could be the next president of Zimbabwe \| David Smith 2015-07-15T04:00:00Z The act also removed the Treasury secretary from the Fed’s board and created a new policy-making committee where board members would outnumber reserve bank presidents. America’s Endless War Over Money 2015-04-07T04:00:00Z Republicans want to strengthen the independence of the Fed’s regional reserve banks, whose presidents participate in monetary policy decisions, while Democrats want to strengthen the federal government’s control. In Republican Attacks on the Fed, Experts See a Shift 2015-04-07T04:00:00Z The reserve banks serve as the operating arms of the Fed, supervising banks and providing a variety of financial services, among other things. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z On one side were the reserve bank presidents who wanted to throw anything and everything at the crisis. At the Fed in 2009, Rolling the Dice in a Crisis 2015-03-07T05:00:00Z As one of the 12 presidents of the Fed’s regional reserve banks, Mr. Harker will participate in the regular meetings of the Fed’s monetary policy committee. Philadelphia Fed Picks Patrick Harker, University of Delaware President, to Lead It 2015-03-02T05:00:00Z The Federal Open Market Committee – which sets interest rates and is made up of seven board members and a rotating cast of reserve bank presidents – is next scheduled to meet in March, April and June. Interest Rates, Transparency Concerns Weigh on Janet Yellen's Congressional Testimony 2015-02-24T05:00:00Z The Dodd-Frank Act – the financial reform law signed by the president in 2010 – already eliminated the right of the bankers on reserve bank boards to appoint reserve bank presidents. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z The Fed’s regional reserve banks pay dividends on the stock to the member banks. Proposal Would Use Some Fed Bank Dividends for Highway Funding 2015-07-21T04:00:00Z Wednesday was Mr. Kocherlakota’s last vote on monetary policy -- the presidents of most reserve banks vote every third year, and Mr. Kocherlakota said earlier this month he would step down in February 2016. Fed Dissenter Warns Against Hasty Interest Rate Increase 2014-12-19T05:00:00Z The reserve banks also help to operate the plumbing of the financial system, including the distribution of currency. Philadelphia Fed Picks Patrick Harker, University of Delaware President, to Lead It 2015-03-02T05:00:00Z They will be replaced by other presidents of reserve banks. Federal Reserve Says It Will Be ‘Patient’ on Interest Rate Timing 2014-12-17T05:00:00Z From that, the reserve banks paid almost $80 billion in interest on Federal Reserve notes back to the U.S. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z Their replacements will be selected by the board of each reserve bank. As Federal Reserve Selects New Top Officials, Coalition Calls for Public Input 2014-11-10T05:00:00Z The board, which comprises the governors based in Washington but not the presidents of the regional reserve banks, held a similar meeting in April. Fed Sees Slower Growth, but Maintains Plans to Trim Stimulus 2014-06-18T04:00:00Z All Fed governors serve on the policymaking Federal Open Market Committee, along with five of the 12 regional reserve bank presidents. Senate confirms Brainard, Powell for Fed seats, Fischer as vice chair 2014-06-12T04:00:00Z The Fed’s new chairman, Arthur F. Burns, did not want to hear the reports on regional economic conditions delivered by the presidents of the 12 reserve banks at each meeting of the Fed’s policy-making committee. No Need to Read the Fed’s Beige Book if You Read This Instead 2014-06-04T04:00:00Z You might then think of each reserve bank as a corporation that pays a high tax rate. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z In letters sent to Fed officials last week, the coalition called for the central bank to let the public participate in choosing new presidents for the regional reserve banks in Philadelphia and Dallas. As Federal Reserve Selects New Top Officials, Coalition Calls for Public Input 2014-11-10T05:00:00Z The views of the policymakers that head the Fed's 12 regional reserve banks are sometimes at odds with those of the Fed chair in Washington. Fed chair vows to 'do all that I can' to boost weak U.S. economy 2014-03-06T04:31:53Z Three of the regional reserve banks want to raise interest rates. Fed’s Actions in 2008: What the Transcripts Reveal 2014-02-21T18:55:51Z Perhaps the best defense of the Beige Book is that the reporting process itself is valuable for the regional reserve banks, informing their assessments of local conditions. No Need to Read the Fed’s Beige Book if You Read This Instead 2014-06-04T04:00:00Z Consider that the New York Fed, like the other 11 reserve banks in the Federal Reserve System, operates in many ways like a regulated private banking corporation. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z Several reserve bank presidents are already grumbling about the Fed’s leisurely schedule. The economy: Is this the year growth takes off? 2014-01-09T16:00:03Z His solution was to propose privately owned regional reserve banks that would be new centers of banking strength, away from Wall Street. Hindsight: The Federal Reserve’s Framers Would Be Shocked 2013-06-22T17:43:11Z Smaller banks lobbied to keep the Fed’s 12 regional reserve banks as their regulator, making a populist case that the arrangement was a counterweight to dominance by Washington and New York. Off the Shelf: ‘Alchemists’ Looks at Central Bankers’ Handling of Crisis 2013-05-04T20:29:39Z At inception, the Federal Reserve System comprised 12 reserve banks – each responsible for its own "district" – and a Federal Reserve Board in Washington, DC. The risk Jamie Dimon poses to the Federal Reserve System's legitimacy 2012-06-18T16:22:17Z Each reserve bank is a “banker’s” bank, providing loans through the discount window, deposits for banks called “reserves,” and check clearing services; they hold U.S. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z Federal Reserve consists of a board of governors, which is an agency independent of the executive, and 12 regional reserve banks. SNB Successor May Escape Wrath Shareholders Heaped on Hildebrand 2012-01-23T12:03:54Z He also has important duties in connection with the management of the federal reserve banks. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z One Dodd proposal would have required presidential appointees, rather than each bank’s board of directors, to select the 12 reserve bank presidents, including the powerful New York Fed president, but that idea went nowhere. Off the Shelf: ‘Alchemists’ Looks at Central Bankers’ Handling of Crisis 2013-05-04T20:29:39Z Most are done electronically through the reserve banks’ automated clearing house. Treasury May Adopt ‘Risky’ Payment Plan as U.S. Deadline Nears 2011-07-29T10:55:47Z Finally, the New York Fed, like other reserve banks, also regulates its clients through bank examinations, in some ways like the way a bank examines its customers. Don't Politicize the New York Federal Reserve Bank 2014-12-22T05:00:00Z “The market has priced in a cut from the reserve bank,” Key said in an interview today in Wellington. Key Says Would Welcome New Zealand Interest Rate Cut 2011-03-02T02:04:07Z Federal reserve banks are under the supervision and control of a federal reserve board consisting of the secretary of the treasury, the comptroller of the currency, and five other members appointed by the President. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z Before LISCC's creation, the Fed's 12 reserve banks handled much of the day-to-day supervision of big banks and reported back to the Board of Governors in Washington, which sets the rules for bank holding companies. The Fed's A-Team Hunts for Signs of Risk 2011-02-17T22:00:00Z In those cities where rates of interest on clearing-house certificates were very high, the reserve banks aided in the retirement of the certificates remaining in circulation. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The Fed Board of Governors works closely with reserve banks in its oversight of the largest bank-holding companies. Fed’s Dudley Scheduled Meetings With Wall Street, Global Chiefs 2010-12-30T00:31:26Z “That would probably be my expectation, that the reserve bank would cut.” Key Says Would Welcome New Zealand Interest Rate Cut 2011-03-02T02:04:07Z Federal Reserve Banks.—By an important act passed in 1913 Congress provided for the creation of a series of federal reserve banks to be located in different parts of the country. Government in the United States National, State and Local 2011-11-16T03:00:28.590Z The already gloomy mood was compounded when the Philadelphia Fed, one of the Federal Reserve's 12 regional reserve banks, published its monthly health check on manufacturing in America's mid-Atlantic region. US unemployment figures increase fears of double-dip recession 2010-08-19T18:32:00Z The board will immediately notify the federal reserve bank of the receipt of such notice. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Fed-supervised banks will lose any say in the governance of the reserve banks. Central banks under scrutiny (2): Prometheus bound 2010-05-20T13:25:00Z Besides Bernanke, presidents of some of those reserve banks are also becoming increasingly vocal about the possibility of losing their role overseeing small and mid-size banks. Bernanke makes case for Fed to keep authority over small banks 2010-03-20T16:30:00Z During the previous Administration Senator Aldrich's plan for a centralized reserve bank had been widely discussed, and innumerable modifications had been suggested. Woodrow Wilson's Administration and Achievements I do not know enough about our own reserve bank law to form an opinion. The Life and Letters of Walter H. Page, Volume II Eastern bankers possessing these six-month notes will probably find them readily rediscountable with the local federal reserve bank at any time up to maturity. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z "I see New York did considerable begging for one of those reserve banks." More Toasts Two kinds of banks are chartered by the national government: the national banks and the federal reserve banks. Elements of Civil Government Under the Federal Reserve Act the reserve banks are in various ways assuming the functions of the correspondent banks. Modern Economic Problems Economics Volume II Each local bank is required to keep certain prescribed balances in the reserve bank of its district, and the federal government may also deposit funds in it. The United States Since the Civil War In sorting notes it is necessary to be able readily to distinguish between notes of this bank and notes of other reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z It was approved by the officials of the Treasury Department, and I understand such an extension has been approved by a majority of the governors of the Federal reserve banks. State of the Union Address Each federal reserve bank is a large central bank organized by the banks of a certain district. Elements of Civil Government The twelve Federal reserve banks which opened for business November 16, 1914, are of a type of institution new in our financial history. Modern Economic Problems Economics Volume II The federal reserve bank shall, however, give a receipt for the stock surrendered. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The reserve bank and the market rate for the discount of such bills in New York has been for nearly a year, and is now, lower than the rate for similar bills in London. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z No one fears the loss of the funds which may be subscribed to the capital stock of the federal reserve banks or placed on deposit with them. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z A greater variety of occupations in large areas will lessen, though not much, extremes of seasonal variation in demands for accommodation upon the federal reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Each reserve bank has nine directors, consisting of three classes of three men each. Modern Economic Problems Economics Volume II They must hold 6/18 of their reserve in vault, 7/18 in their Federal Reserve Bank, and the remaining 5/18 either in vault or with their federal reserve bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z It also lessens somewhat the danger of unnecessary withdrawals of funds from the reserve banks in emergencies. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z On note reserve deficiencies, the tax imposed in the law is to be added to the rate of discount of the reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z In the operation of the new system, the boards of directors of the reserve banks may prove the most important part of the organization; or that place may be occupied by the Federal Reserve Board. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Establish accounts with other Federal reserve banks and with banks in foreign countries or establish foreign branches. h. Modern Economic Problems Economics Volume II What the reserve bank does in accumulating gold behind its Federal Reserve notes is to establish with the holder of each note a credit which may be availed of whenever the occasion requires. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The Board is to exercise many supervisory functions over the reserve banks which are similar to those which have long been exercised by the Comptroller of the Currency over the national banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The development of a more satisfied relationship requires progress on the part of the reserve bank and a willingness to co-operate on the part of the country banker. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z At the reserve bank they may borrow as a standing right and not as a favor which may be cut off. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z No notes, it will be observed, are issued by or on request of the member banks, but only on request of a Federal reserve bank. Modern Economic Problems Economics Volume II The experience of banks in using the forms provided by the reserve bank to get statements from their borrowers is evidence of this. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z All member banks and all reserve banks must receive these notes; and the reserve banks will probably have branches within easy reach of any part of the district. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z All national banks are required, and qualified state banking institutions are invited, to subscribe to the capital of the reserve bank in their district. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Additional legislation would be necessary, and the possibility of such legislation is not appreciably increased by making the notes which are to be issued by the reserve banks an obligation of the Government. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z This tax must be paid by the reserve bank, but it must add an amount equal to the tax to the rates of interest and discount charged to member banks. Modern Economic Problems Economics Volume II The reserve banks, in turn, are required under the law to return for redemption the notes issued by other reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Few of them, as yet, conceive of the reserve bank as their active reserve agent, performing all the services which go with the relationship. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z He will know that if he needs money to accommodate the bank's customers he can, as a matter of right, call on his federal reserve bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z That is, any reserve bank desiring to contract its note obligations may at its discretion deposit with the federal reserve agent reserve notes, gold, or lawful money. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The effect of these rules is to give a power of note issue in time of emergency without compelling the reserve banks to lock up their reserves held against notes. Modern Economic Problems Economics Volume II The dormant accounts most of the banks maintain with the reserve bank are, perhaps, indicative of their attitude toward it. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The reserve bank should organize a complete collection system embracing the handling of notes, drafts, and items on non-member banks, which eventually will bring all the members into daily active relations with the bank. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z That means that the Bluefield bank receiving the check on the Columbia, S. C., bank mails it to the federal reserve bank at Richmond. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The federal reserve bank at Richmond thereupon charges the Columbia bank with the amount of the check, credits the Bluefield bank with the proceeds, and notifies the two banks accordingly. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Every Federal reserve bank shall, under normal conditions, maintain reserves in lawful money of not less than 35 per cent against its deposits. Modern Economic Problems Economics Volume II Whatever might be true in panicky times, it seems certain that in an ordinary year the gold holdings of a reserve bank will be much above 40 per cent. of its note issue. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The opening of the reserve banks released, as already shown, a large amount of bank funds, and thereby rendered it possible to extend many loans which otherwise could not have been carried by the banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z As between the reserve banks of the different districts, however, this particular motive will, of course, be more or less in evidence, since these reserve banks will all be competitors for this opportunity. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z It is the plain conception of the Act that the reserve banks should, to a very large extent, if not entirely, perform the work that is now being done by correspondent banks in this respect. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z The new rule requires that one-third must be in the bank's own possession, a fraction slightly over a third must be in the Federal reserve bank, and the remainder may be kept in either place. Modern Economic Problems Economics Volume II The processes provided by the act for the issue of Federal Reserve notes to the reserve bank permit complete interchangeability between gold and rediscounts held by the agent. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z This condition of affairs made it certain that the reserve banks, upon their organization, would not be instantly pressed for the issue of reserve notes. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z For violations of law, it may suspend the operation of a reserve bank, and administer or liquidate it. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Supplementing a negative control by the bank examiners, who are powerless so long as the letter of the law is observed, the federal reserve banks will be a great positive force. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z And, in turn, every member bank will now be able at such times to rediscount such paper and thus secure credit toward its reserve requirement on the books of its Federal reserve bank. Modern Economic Problems Economics Volume II Member banks will certainly deposit the notes with their own reserve banks, which are required to accept the notes of other banks at par. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z At least once in each three months an audit shall be made of the gold settlement fund by a representative of the Federal Reserve Board and representative appointed by the federal reserve banks. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Shareholders in the reserve banks are entitled to a cumulative dividend of 6 per cent. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Whether these changes in reserves, together with payments by the banks of subscriptions to the capital stock of the reserve banks, will make necessary any considerable amount of loan contraction, cannot be precisely determined. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Further on the notes are spoken of as "issued to" a Federal reserve bank, and again as "issued through" a Federal reserve bank, but not by it. Modern Economic Problems Economics Volume II Each federal reserve bank shall count as a part of its legal reserve the funds standing to the credit of its account on the books of the gold settlement fund. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Upon the organization of the federal reserve banks, moreover, the urgent pressure for note accommodation passed away as quickly as it had come. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z Against the $1,125 deposited with it the central reserve bank is required to hold only 25 per cent. of reserves—$281.25. Readings in Money and Banking Selected and Adapted 2011-02-01T03:00:14.553Z
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