Establishment Of The Federal Reserve Bank - 2017-2018 StudyChaCha

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Old January 16th, 2017, 09:42 AM
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Default Establishment Of The Federal Reserve Bank

Hii sir, I wants to get the Information About the Establishment of the Federal Reserve Bank Will you Please provide It ?
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Old January 16th, 2017, 10:28 AM
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Default Re: Establishment Of The Federal Reserve Bank

As you Asking for the Information About the Establishment of the Federal Reserve Bank the Information is given below

About the Establishment

The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913

there are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913.[1]

Federal Reserve Banks


the Federal Open Market Committee, and are divided as follows:

Federal Reserve Bank of Boston
Federal Reserve Bank of New York
Federal Reserve Bank of Philadelphia
Federal Reserve Bank of Cleveland
Federal Reserve Bank of Richmond
Federal Reserve Bank of Atlanta
Federal Reserve Bank of Chicago
Federal Reserve Bank of St. Louis
Federal Reserve Bank of Minneapolis
Federal Reserve Bank of Kansas City
Federal Reserve Bank of Dallas
Federal Reserve Bank of San Francisco


Function :


The Federal Reserve System provides the government with a ready source of loans and serves as the safe depository for federal money.

The Federal Reserve is also a low-cost mechanism for transferring funds and is an inexpensive agent for meeting payments on the national debt and government salaries.

The Federal Reserve Banks were created as instrumentalities to carry out the policies of the Federal Reserve System.


Financial

Assests


ederal Reserve Bank Total assets
(as of 17-Sep-2015)[20]
New York City US$2.62T
San Francisco US$ 512B
Richmond US$ 289B
Atlanta US$ 244B
Chicago US$ 175B
Dallas US$ 154B
Cleveland US$ 133B
Philadelphia US$ 120B
Boston US$ 91B
Kansas City US$ 61B
St. Louis US$ 58B
Minneapolis US$ 32B
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