8638916
Description
Mind Map by Jacob chesser, updated more than 1 year ago
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Created by Jacob chesser
about 7 years ago
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Federal reserve
- 12 Districts
- Each district has its own Federal reserve
bank
- Each bank has its own
president
- Each bank has its own
president
- Each district has its own Federal reserve
bank
- Controls Money supply
- Required reserve
ratio
- The % of the money a bank takes in that it must keep on hand.
- The % of the money a bank takes in that it must keep on hand.
- Discount rate
- The interest rate the Fed charges members banks when loaning them money
- The interest rate the Fed charges members banks when loaning them money
- Open market
operations
- When the Fed buys or sells bonds
- When the Fed buys or sells bonds
- M1:
- Required reserve
ratio
- Board of directors
- 7 members
- Each serves 14 year
term
- Appointed by the
President
- Each President designates one of the board members to be the
Chairperson
- Each President designates one of the board members to be the
Chairperson
- Approved by the
Senate
- Each serves 14 year
term
- 7 members
- Central Banking system of the US
- Created by the Federal Reserve Act of 1913
- Created by the Federal Reserve Act of 1913
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