The US Federal Reserve System 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 ". For this purpose, the Federal Reserve System was created. […]
Federal Reserve Act
From time to time, the normal course of the planet's business activity is interrupted and prominent businessmen, bankers, stock traders, mutual fund managers, and along with them – Policy, ministers, drug dealers and an army of thousands of journalists, holding breath, listening to a lanky, puny old man named Alan Greenspan speaking (currently the head of the Fed is Ben Bernanke. approx. Victor), who, with the greatest profoundness, announces to the city and the world of raising or lowering the interest rate of federal funds (Fed Funds Rate - percentage, under which commercial banks have the right to lend money to each other for one night to maintain the federal deposit within the normal range. Established by the US Federal Reserve).
Federal Reserve System (FED, The federal reserve) (English. Federal Reserve System) - Specially created in 1913 year by the Federal Reserve Act (English. Federal Reserve Act) system, which collectively serves as the central bank of the United States of America. The state plays a significant role in the management of the FRS, although the form of ownership of capital is private - joint-stock with a special status of shares.