THE FEDERAL RESERVE SIMPLY FEDIS THE CENTRAL BANK SYSTEM THE UNITED STATES ENACTMENT THE FEDERAL RESERVE ACT IN RESPONSE FINANCIAL PANIC THE NEED CENTRAL CONTROL MONETARY SYSTEM PARTICULARLY PANIC OVER TIME ROLES STRUCTURE EVENTS THE GREAT DEPRESSION IN MAJOR FACTORS LEADING CHANGES CONGRESS MONETARY POLICY MAXIMIZING INTEREST SOMETIMES THE FEDERAL DUAL MANDATE DUTIES SUPERVISING BANKS MAINTAINING STABILITY THE FINANCIAL FINANCIAL SERVICES DEPOSITORY INSTITUTION FOREIGN OFFICIAL THE FED RESEARCH ECONOMY BEIGE BOOK SYSTEMS BOARD OF GOVERNORS FEDERAL RESERVE BOARD FEDERAL OPEN MARKET COMMITTEE TWELVE REGIONAL FEDERAL RESERVE BANK CITIES PRIVATELY OWNED MEMBER GOVERNMENT SALARIES BOARDS SEVEN NATIONALLY CHARTERED COMMERCIAL BANKS HOLD STOCK THE FEDERAL RESERVE BANK OF ELECT BOARD FOMC THE TWELVE REGIONAL BANK BANK PRESIDENTS VOTE THE PRESIDENT NEW YORK FED ROTATE PRIVATE PUBLIC COMPONENTS SERVE THE PUBLIC PRIVATE BANKS THE STRUCTURE UNIQUE DEPARTMENT OF THE TREASURY ENTITY OUTSIDE PRINTS CURRENCY ITSELF INDEPENDENT CENTRAL BANK DECISIONS DO NOT HAVE TO ANYONE ELSE THE EXECUTIVE LEGISLATIVE BRANCHES OF GOVERNMENT FUNDING TERMS THE MEMBERS SPAN MULTIPLE PRESIDENTIAL AND CONGRESSIONAL ANNUAL STATUTORY DIVIDEND CAPITAL INVESTMENT ACCOUNT SURPLUS PROFIT BILLION TREASURY PRIMARY MOTIVATION WAS TO ADDRESS BANKING PANICS ELASTIC AFFORD MEANS COMMERCIAL PAPER EFFECTIVE SUPERVISION BANKING IN THE UNITED STATES FINANCIAL CRISES CRISIS TODAY ADDITION CURRENT FUNCTIONS PROBLEM STRIKE BALANCE CENTRALIZED RESPONSIBILITY BANKING INSTITUTIONS PROTECT CREDIT RIGHTS CONSUMERS THE NATIONS MONEY SUPPLY MAXIMUM EMPLOYMENT STABLE PRICES PREVENTION INFLATION DEFLATION MODERATE INTEREST RATES SYSTEMIC RISK FINANCIAL MARKETS DEPOSITORY INSTITUTIONS PLAYING ROLE PAYMENTS FACILITATE THE EXCHANGE REGIONS RESPOND LOCAL LIQUIDITY NEEDS STANDING IN THE WORLD DEPOSITS FRACTION AMOUNT THE BANKS DEPOSIT LIABILITIES PRACTICE INVEST THE MAJORITY FUNDS RARE CUSTOMERS WITHDRAW SAVINGS NEED HELP INSTITUTION CONTINUE BANK RUN BANK RUNS LEAD MULTITUDE SOCIAL AND ECONOMIC ATTEMPT PREVENT LENDER OF LAST RESORT MILTON FRIEDMAN BELIEVE REFUSED LEND MONEY CLEAR CERTAIN TIMES ECONOMIC THE UNITED CANNOT ELSEWHERE COLLAPSE PRIVATE SECTOR CLEARING HOUSES FREE BANKING ERA WHETHER AVAILABILITY DISCOUNT WINDOW RESERVE MEET STEMMING SEASONAL UNEXPECTED LONGER TERM EXCEPTIONAL CIRCUMSTANCES RATE CHARGES LOANS BUFFER DEMAND AND SUPPLY PRESSURE MARKET EXTENT MOVEMENTS AUTHORIZED LOAN STAVE BANKRUPTCY INTERNATIONAL INSURANCE GIANT AMERICAN INTERNATIONAL GROUP THE CENTRAL BANK OF BANKERS BANK GOVERNMENTS THE BANKERS SAFETY EFFICIENCY VARIETY FINANCIAL TRANSACTIONS MIGHT KEEP KEEPS CHECKING ACCOUNT INCOMING FEDERAL TAX SERVICE GOVERNMENT SECURITIES SAVINGS BONDS TREASURY BILLS NOTES COIN PAPER CURRENCY BUREAU OF THE MINT BUREAU OF ENGRAVING PRINTING ACTUALLY CASH SUPPLY THE PAPER MANUFACTURING COST COINS FACE VALUE FINANCIAL INSTITUTIONS FISCAL YEAR THE BUREAU ENGRAVING AVERAGE COST CENTS FEDERAL FUNDS FEDERAL RESERVE DEPOSITS FEDERAL RESERVE THE NAMESAKE PURPOSE MECHANISM AS IT INSPIRED NAME THE SYSTEM BASIS MONETARY CHARGE EACH OTHER LENDING FEDERAL RESERVE ACCOUNTS CONVERTED FEDERAL RESERVE NOTE BANK RESERVES COMPROMISE COMPETING PRIVATIZATION DONALD KOHN VICE CHAIRMAN OF THE HISTORY OF THE BALANCE SEEN THE BOARD OF DIRECTORS THE PRESIDENT OF THE UNITED CONFIRMED THE SENATE GIVE INPUT THE GOVERNMENT OFFICIALS SITUATION GOVERNMENT OFFICIALS POLICY AGENCY AUDIT ENACTED IN AS PUBLIC LAW SECTION BOARD OF GOVERNORS OF AUDITED ACCOUNTABILITY OFFICE AUTHORITY STORAGE AUDITS FEDERAL RESERVE BANKS TRANSACTIONS FOREIGN INTERNATIONAL ORGANIZATION DELIBERATIONS MATTERS DIRECTION OPEN MARKET COMMITTEE DISCUSSION COMMUNICATION OFFICERS EMPLOYEES RELATED FEDERAL RESERVE SYSTEM ACCESS STATEMENT CHARLES BOWSHER NUMBER SUPERVISORY COMPLETE GENERAL DESCRIPTION REGULATION AND SUPERVISION INVOLVED DISTRICT DISTRICT BANK JUDGED PERFORMING REPORT UNITED STATES CODE BANKING SERVICES PAYMENT COLLECTING ELECTRONICALLY BANKS ACT PROCESSING ELECTRONIC DEREGULATION ACT OF CONGRESS SHOULD PROMOTE EFFICIENT THE ACT COMMERCIAL RESERVE REQUIREMENTS GRANTS EQUAL RESERVE BANK COMPETITION PROVIDERS FEES RECOVER COSTS THE LONG RUN RETAIL WHOLESALE GENERALLY INVOLVE SMALLER AUTOMATED CORPORATE FEDWIRE SECURITIES MOVE POLICIES AND PROCEDURES LIMIT RISK FAILURE SETTLE RATHER PUBLIC FUNDING SUBJECT TO CONGRESSIONAL MODIFICATION THE DISTRICT SETTING NATIONAL GOVERNORS TERM BEGINS FULL TERM EXPIRATION SHALL THE LAW MEMBER OF THE BOARD FOR CAUSE ANNUAL REPORT OPERATIONS THE SPEAKER HOUSE OF REPRESENTATIVES THE CHAIR VICE CHAIR OF THE BOARD SITTING THE CURRENT LATE DECEMBER PRESIDENT BARACK OBAMA NOMINATED JEREMY STEIN HARVARD UNIVERSITY FINANCE PROFESSOR DEMOCRAT JEROME POWELL DILLON READ BANKERS TRUST THE CARLYLE GROUP REPUBLICAN CANDIDATES TREASURY DEPARTMENT EXPERIENCE OBAMA GEORGE BUSH OBAMA ADMINISTRATION PETER DIAMOND NOBEL NOMINATION THE FACE RICHARD CLARIDA POTENTIAL NOMINEE PULLED CONSIDERATION IN AUG