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88 Structure of the Federal Reserve System
88 Structure of the Federal Reserve System About the Federal Reserve System The Federal Reserve System is the central bank of the United States. free forex signals It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest. The Federal Reserve conducts the nation's monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad; promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole; fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations. Read more in the 10th edition of Federal Reserve System Purposes & Functions. free forex signals Figure uses a pyramid of graphics to describe the Federal Reserve System. Top level: There is 1 U.S. Central Bank: the Federal Reserve System. Second level: The 3 Key Entities of the Federal Reserve System: Federal Reserve Board of Governors, 12 Federal Reserve Banks, and the Federal Open Market Committee. Third level: The 5 Key Functions of the Federal Reserve System: conducting the nation's monetary policy, helping maintain the stability of the financial system, supervising and regulating financial institutions, fostering payment and settlement system safety and efficiency, and promoting consumer protection and community development. forex signals The Decentralized System Structure and Its Philosophy In establishing the Federal Reserve System, the United States was divided geographically into 12 Districts, each with a separately incorporated Reserve Bank. District boundaries were based on prevailing trade regions that existed in 1913 and related economic considerations, so they do not necessarily coincide with state lines. Twelve Federal Reserve Districts operate independently but with supervision Federal Reserve District boundaries are based on economic considerations; the Districts operate independently but under the supervision of the Federal Reserve Board of Governors. forex signals Federal Reserve Banks 01-Boston 02-New York 03-Philadelphia 04-Cleveland 05-Richmond 06-Atlanta 07-Chicago 08-St. Louis 09-Minneapolis 10-Kansas City 11-Dallas 12-San Francisco Board The Federal Reserve officially identifies Districts by number and Reserve Bank city. forex signals In the 12th District, the Seattle Branch serves Alaska, and the San Francisco Bank serves Hawaii. The System serves commonwealths and territories as follows: the New York Bank serves the Commonwealth of Puerto Rico and the U.S. Virgin Islands; the San Francisco Bank serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. The Board of Governors revised the branch boundaries of the System in February 1996. free forex signals As originally envisioned, each of the 12 Reserve Banks was intended to operate independently from the other Reserve Banks. Variation was expected in discount rates--the interest rate that commercial banks were charged for borrowing funds from a Reserve Bank. The setting of a separately determined discount rate appropriate to each District was considered the most important tool of monetary policy at that time. The concept of national economic policymaking was not well developed, and the impact of open market operations--purchases and sales of U.S. government securities--on policymaking was less significant. As the nation's economy became more integrated and more complex, through advances in technology, communications, transportation, and financial services, the effective conduct of monetary policy began to require increased collaboration and coordination throughout the System. This was accomplished in part through revisions to the Federal Reserve Act in 1933 and 1935 that together created the modern-day Federal Open Market Committee (FOMC). forex trading signals The Depository Institutions Deregulation and Monetary Control Act of 1980 (Monetary Control Act) introduced an even greater degree of coordination among Reserve Banks with respect to the pricing of financial services offered to depository institutions. There has also been a trend among Reserve Banks to centralize or consolidate many of their financial services and support functions and to standardize others. Reserve Banks have become more efficient by entering into intra-System service agreements that allocate responsibilities for services and functions that are national in scope among each of the 12 Reserve Banks. free forex signals The U.S. Approach to Central Banking The framers of the Federal Reserve Act purposely rejected the concept of a single central bank. Instead, they provided for a central banking "system" with three salient features: (1) a central governing Board, (2) a decentralized operating structure of 12 Reserve Banks, and (3) a combination of public and private characteristics. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest. forex signals free There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC). The Board of Governors, an agency of the federal government that reports to and is directly accountable to Congress, provides general guidance for the System and oversees the 12 Reserve Banks. Within the System, certain responsibilities are shared between the Board of Governors in Washington, D.C., whose members are appointed by the President with the advice and consent of the Senate, and the Federal Reserve Banks and Branches, which constitute the System's operating presence around the country. While the Federal Reserve has frequent communication with executive branch and congressional officials, its decisions are made independently. forex trading signals The Three Key Federal Reserve Entities The Federal Reserve Board of Governors (Board of Governors), the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC) make decisions that help promote the health of the U.S. economy and the stability of the U.S. financial system. Three key entities, serving the public interest The framers of the Federal Reserve Act developed a central banking system that would broadly represent the public interest. forex trading signals CONGRESS graphic positioned above the three key Federal Reserve entities' graphics: 'CONGRESS oversees the Federal Reserve System and its entities.' A dotted arrow leads down to the BOARD graphic: 'BOARD OF GOVERNORS is an independent agency of the federal government.' A dotted arrow leads right from the BOARD graphic to the BANKS graphic: 'FEDERAL RESERVE BANKS are the operating arms of the Federal Reserve System and are supervised by the Board of Governors.' Dotted arrows lead left from the BOARD and BANKS graphics to the FOMC graphic: 'FEDERAL OPEN MARKET COMMITTEE consists of the members of the Board of Governors and Reserve Bank presidents. The Chair of the Board is the FOMC Chair. https://www.freeforex-signals.com/ Other Significant Entities Contributing to Federal Reserve Functions Two other groups play important roles in the Federal Reserve System's core functions: forex trading signals depository institutions--banks, thrifts, and credit unions; and Federal Reserve System advisory committees, which make recommendations to the Board of Governors and to the Reserve Banks regarding the System's responsibilities. https://www.freeforex-signals.com/ Depository Institutions Depository institutions offer transaction, or checking, accounts to the public, and may maintain accounts of their own at their local Federal Reserve Banks. Depository institutions are required to meet reserve requirements--that is, to keep a certain amount of cash on hand or in an account at a Reserve Bank based on the total balances in the checking accounts they hold. free forex signals Depository institutions that have higher balances in their Reserve Bank account than they need to meet reserve requirements may lend to other depository institutions that need those funds to satisfy their own reserve requirements. This rate influences interest rates, asset prices and wealth, exchange rates, and thereby, aggregate demand in the economy. The FOMC sets a target for the federal funds rate at its meetings and authorizes actions called open market operations to achieve that target. free forex signals Advisory Councils Four advisory councils assist and advise the Board on matters of public policy. Federal Advisory Council (FAC). This council, established by the Federal Reserve Act, comprises 12 representatives of the banking industry. The FAC ordinarily meets with the Board four times a year, as required by law. Annually, each Reserve Bank chooses one person to represent its District on the FAC. FAC members customarily serve three one-year terms and elect their own officers. Community Depository Institutions Advisory Council (CDIAC). The CDIAC was originally established by the Board of Governors to obtain information and views from thrift institutions (savings and loan institutions and mutual savings banks) and credit unions. More recently, its membership has expanded to include community banks. Like the FAC, the CDIAC provides the Board of Governors with firsthand insight and information about the economy, lending conditions, and other issues. forex trading signals Model Validation Council. This council was established by the Board of Governors in 2012 to provide expert and independent advice on its process to rigorously assess the models used in stress tests of banking institutions. Stress tests are required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The council is intended to improve the quality of stress tests and thereby strengthen confidence in the stress-testing program. Community Advisory Council (CAC). This council was formed by the Federal Reserve Board in 2015 to offer diverse perspectives on the economic circumstances and financial services needs of consumers and communities, with a particular focus on the concerns of low- and moderate-income populations. The CAC complements the FAC and CDIAC, whose members represent depository institutions. The CAC meets semiannually with members of the Board of Governors. The 15 CAC members serve staggered three-year terms and are selected by the Board through a public nomination process. Federal Reserve Banks also have their own advisory committees. Perhaps the most important of these are committees that advise the Banks on agricultural, small business, and labor matters. The Federal Reserve Board solicits the views of each of these committees biannually. More on https://www.freeforex-signals.com/ free forex signalspresents special offer open trading account with one of the best forex brokers and GET FREE forex Signals via SMS, Email and WhatsApp SIGN UP FOR A FREE TRIAL To Access FREE Forex Signals in the Members Area START FREE 30 DAYS TRIAL on https://www.freeforex-signals.com/
[Biweekly Geopolitics Thread] Iran marks anniversary of Revolution, Venezuela blockades highway, and 'Miss Curvy Uganda'
Welcome to the Biweekly Geopolitics Thread, where you can discuss all the interesting things that have happened across the world. Did your favourite singer win a Grammy? Did your favourite sport just have a major event? Is Kim Jong-Un still around? Discussion topics do not have to be related to India - yes, we too can comment on countries that we barely know anything about! Here are a few items to get the conversation started:
Top stories from India's neighbourhood:
1. Pak close to securing IMF deal Despite money from allies Saudi Arabia and the UAE, and possibly also from China, Pakistan is still going to the IMF for a bailout package that, as PM Khan said, will include some tough reform measures. Pak is asking for a loan as forex reserves stand at $8 billion (less than 2 months of imports) and growth is slowing. Bond rating companies have further downgraded Pakistani bonds on fears that the country will be unable to repay its massive debt. In addition, local banks that deal heavily in government debt have also been recently downgraded, making it harder for them to get credit from the international market. 2. Iran marks 40th anniversary of Islamic Revolution In 1979, Ayatollah Khomeini led a revolution in Iran that toppled the Western-backed Shah's regime and established the Islamic Republic. Iran marked the 40th anniversary of that event with a series of events, including a national speech by the President Rouhani, whose authority is subordinate to that of the Ayatollah, where he vowed to build Iran's military capabilities in the face of a American opposition and sanctions that have crippled the economy. The head of the elite Iranian Revolutionary Guards Corps (which is a US-designated terrorist organization) also vowed to continue Iran's military interventions across the region, saying "We will help any Muslim anywhere in the world." 3. Thai princess barred from contesting upcoming elections In a surprising turn of events last week, the sister of the Thai king, Princess Ubolratana Rajakanya Sirivadhana Barnavadi, filed her papers to content in the upcoming national elections, the first to be held since a military coup ousted the previous civilian administration in 2014. And to make matters worse, she filed her nomination with the Thai Raksa Chart party, which supports the former ousted Prime Minister Thaksin Shinawatra. Now, the country's election commission has rejected her nomination, ostensibly to keep the royal family above politics. What's more, the party could face a ban for breaking a law that requires politicians to avoid using the monarchy for political issues. A ban on the party could give more power to the military-backed government that is looking to win the election. The military already nominates one-third of legislators as per a new Constitution.
Top stories from the world:
1. Russia plans new missiles after both sides withdraw from INF Treaty After the US pulled out of the Cold War-era Intermediate-range Nuclear Forces (INF) treaty, Russia did the same and has now vowed to developed new intermediate-range nuclear missiles (500-5,500 km range). The treaty was originally signed to prevent nuclear annihilation of Europe by Soviet nuclear weapons, but the US has accused Russia of violating the treaty in the last few years. However, many commentators believe that the real reason the US withdrew from the treaty is so that it could develop new missiles to target China's eastern seaboard from Japan, Korea, Taiwan, and Guam. China is not part of the treaty and already has intermediate-range nuclear missiles, and the Trump administration has previously said that it would want a new treaty to include China. 2. Venezuela's military blocks road to prevent aid from entering country Venezuela plunged deeper into crisis as the military, which officially backs President Maduro, blocked a major bridge into neighbouring Colombia to prevent a shipment of aid from entering the country. He was condemned by opposition leader and presidential claimant, Juan Guaido, who wants to use the aid to undermine Maduro and force him to leave office. Most neighbouring countries, European countries, and the US recognize Guaido as the interim president pending free elections. Maduro, on his part, claims that there is no humanitarian crisis in the country and that the aid is akin to a US military invasion. "We are not beggars," Maduro said. 3. 'Miss Curvy Uganda' sparks outrage Like every country, Uganda wants to promote tourism. However, a private initiative backed by the country's tourism minister has sparked an outrage. 'Miss Curvy Uganda' is a planned beauty pageant for "plus sized women" to encourage tourists to come and see Uganda's beautiful women. This is part of the tourism ministry's plan to add 'curvy and sexy women' to official literature as one of the many attractions in the country. However, women's right activists and the country's ethics minister have condemned it, stating that it objectifies women and normalized sexual violence. Calls for cancelling the event and firing the tourism minister continue to grow.
Geopolitical History: The Suez Crisis
(A new feature to educate the sub on critical people and events that shaped history) In 1956, Egyptian President Nasser (one of the co-founders of the Non-Aligned Movement along with Nehru, Tito, and Sukarno) nationalized the Suez Canal, setting off a crisis with France and Britain that wanted to retain control over it, as well as Israel, which Egypt was blockading since it was founded. In October 1956, Israel, France, and Britain invaded Egypt. Aside from ensuring continuing shipments of oil, the British had an additional reason to fight: to continue to have speedy access to its colonies East of Suez, even though its largest and most important colony there (India) had achieved independence. The French blamed Nasser's Arab nationalism for stoking an independence movement in Algeria, while Israel wanted to strengthen its position on its southern border and gain shipping access via the Straits of Tiran in the Red Sea. The invasion was a quick military victory for the British, French, and Israeli forces, but not before Egyptian forces damaged the canal and prevented its further use. However, it was a diplomatic disaster for those countries. US President Eisenhower condemned the attack on the grounds that he could not condemn the ongoing Soviet invasion of Hungary while being seen to accept the invasion of Egypt. He also threatened to sell millions of pounds of British bonds to undermine their economy. The Soviet Union also condemned the invasion as it was trying to gain favour of the Muslim world (indeed, hundreds of thousands protested against the invasion in Lahore). At the UN, the General Assembly passed a resolution against the invasion and established the UN Emergency Force (UNEF) to bring a stop to the fighting, the first peacekeeping force established by the UN. Saudi Arabia also started an oil embargo against Britain and France (it never traded with Israel anyway). In the end, Egypt won the war, with the UN, US, and USSR recognizing its sovereignty over the Suez Canal. Israel gained marginally as it restored trade through the Straits of Tiran, which Egypt had closed since 1950; it also saw a period of peace with Egypt as the UN force stopped fighting in the Sinai. For Britain (and to a lesser extent France), it marked the end of its global empire as it was humiliated and forced to withdraw. In subsequent years, all remaining large colonies East of Suez gained independence. Canada's Secretary for External Affairs Lester Pearson, who went on to become its Prime Minister, won the Nobel Peace Prize in 1957 for spearheading UNEF and thus creating the modern concept of a peacekeeping force. The Suez Crisis also shaped Indian foreign policy, and was marked as a success of the Non-Aligned Movement in opposing imperialism while also protecting India's economic interests (India was one of the top users of the Suez Canal). Indian representatives participated in negotiations on the crisis (including representing Egypt at a peace conference that the country had officially boycotted) and Indian troops participated in the UNEF force, our first such participation as a sovereign republic in a foreign military crisis. What events in the world caught your attention? Share it with the sub! वसुधैव कुटुम्बकम्
Whatsup Forex, So with North Korea's independence day and their "present" aka sending Guam back into the stone age, would now be a good time to put a short in and close it when the markets open on Sunday (Monday morning here) Not asking so I can trade blindly, simply curious as to the opinion of the subreddit. Cheers!
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