TAILIEUCHUNG - Thị trường tài chính và các định chế tài chính_ Chapter 04

Federal Reserve district banks There are 12 Federal Reserve district banks The NY bank is the most banks that become members of the Fed must purchase stock in their district banks. Pays a maximum dividend of 6% annually. Each district bank has nine directors. | Chapter 4 Functions of the Fed Financial Markets and Institutions, 7e, Jeff Madura Copyright ©2006 by South-Western, a division of Thomson Learning. All rights reserved. Chapter Outline Organization of the Fed Monetary policy tools Impact of technical factors on funds Fed control of the money supply Monetary Control Act of 1980 Global monetary policy Organization of the Fed The Fed has five major components: Federal Reserve district banks Member banks Board of Governors Federal Open Market Committee (FOMC) Advisory committees Organization of the Fed (cont’d) Federal Reserve district banks There are 12 Federal Reserve district banks The NY bank is the most important Commercial banks that become members of the Fed must purchase stock in their district banks Pays a maximum dividend of 6% annually Each district bank has nine directors Six elected by member banks; three appointed by the Board of Governors The nine directors appoint the president of the district bank District banks

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