Federal Reserve System USA was created at the beginning of the 20th century. IN 1913 G. the United States passed the Federal Reserve Act. The purpose of the law was defined as follows: "Creation of banks of the Federal Reserve, ensuring a stable monetary system, receipt of rediscount funds, Building Better Supervision of Banking in the United States ". Для этой цели создавалась Federal Reserve System (FED).
It should be noted, that twelve Federal Reserve banks were established from the outset, twelve cities and counties of the Federal Reserve have been identified. County boundaries changed, but slightly, and the cities remained the same, Also in the amount of twelve. (Boston, NEW, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, St. Francisco.)
The Fed is a joint-stock corporation, among the original shareholders was the United States Government.. However, when the system got stronger, there is no need for this..
Seven members of the Board of Governors of the Federal Reserve System are appointed by the President and confirmed by the Senate.. Full term of appointment — 14 years. Reassignment occurs every two years from 1 February. Councillor, full-time, cannot be reassigned.
The Chairman and Vice-Chairman of the Management Board are appointed by the President from among the members of the Board, and this candidacy is confirmed by the Senate. Term of appointment — 4 of the year. The term of a member of the Management Board shall not affect his or her status as Chairman or Vice-Chairman.
The US Central Bank represented by the Fed performs all functions, Peculiar, usually, to any Central Bank. First of all, the issue of money. Banknotes, issued by each Federal Reserve bank, must be secured for the entire amount by securities - promissory notes, debt obligations, bills of exchange, bank acceptances, gold or SDR certificates, guaranteed U.S. liabilities or assets, which the Federal Reserve Bank can buy and keep at home.
US law does not provide direct lending to the government. All government spending, как и доходы, regulated by the budget, compiled by the Ministry of Finance. The Ministry of Finance itself seeks the missing funds and often resorts to issuing bonds and bills through the Treasury. Federal Reserve banks participate in the sale of such securities.
The Inspection Service plays an important role for the system of banks of the US Federal Reserve. She oversees the Federal Reserve Banks. It regularly receives information about the inspection operations of the audit services of the Federal Reserve banks themselves., entitled to inspect all of their members and banks controlled by these members, apart from national.
The entire Federal Reserve system is governed by three bodies:
- · Совета управляющих ФРС;
- · Федерального консультативного совета;
- · Федерального комитета открытого рынка — Federal Open Market Committee (FOMC).
Federal Open Market Committee - FOMC - responsible for making decisions on monetary policy, including interest rate changes, what is being done 8 раз в году. Schedule проведения заседаний публикуется на
The committee includes 12 participants, consists of 7 members of the Board of Governors; President of the Federal Reserve Bank of New York; the remaining four seats are held for a one-year term by each of the presidents 11 other Federal Reserve banks.
