Money & The Fed
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This document provides an overview of money and the Federal Reserve System. It defines money, discusses its key functions and properties, and explains how the US dollar became fiat currency not backed by gold. It also summarizes the role of the Federal Reserve System and its central banks in controlling the money supply, clearing checks, regulating banks, and maintaining currency. Additionally, it briefly describes the Federal Deposit Insurance Corporation and its role insuring commercial bank deposits.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
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For Order Online:
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Email: arguni.hasnain@gmail.com
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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This presentation deals with “History of the Banking Sector”, where in you will be introduced to the evolutionary steps of the Economic Civilization and various stages of development of the banking sector.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
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This chapter discusses the history and evolution of money, including:
1) Money has evolved from barter systems to commodity currencies like salt and spices, then to precious metals like gold and silver, and eventually to paper currencies and modern fiat money issued by governments.
2) Banks play an important role in modern economies by accepting deposits, issuing loans, and facilitating transactions, though they are also susceptible to failures and panics without regulation and insurance.
3) The U.S. has experienced various monetary systems throughout its history such as commodity-backed and gold-standard currencies, and more recently a fiat system managed by the Federal Reserve central banking system.
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What will money look like in the next 20 years?
What is the major driver of the evolution of money?
This article may answer some of these questions.
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It deals Money - types - functions of Money - Banking - types- Functions of commercial Banks - functions of Central Bank
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The document discusses the four main functions or jobs of money: medium of exchange, standard of value, store of value, and standard of deferred payment. It explains each function in detail. Money serves as a medium of exchange by facilitating transactions and reducing the inefficiencies of bartering. It acts as a standard of value by providing a common unit to measure and compare the relative worth of goods and services. However, money is only a short-term store of value and standard of deferred payment as inflation erodes its purchasing power over the long-run.
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- Money is defined as a circulating medium of exchange that is officially issued as legal tender, usually consisting of currency and coins. Each country has its own currency.
- Credit refers to money that is available to be borrowed, with the understanding it must be paid back later, often with interest. Common examples are credit cards and loans.
- There are differences between cash transactions, which are settled immediately, and credit transactions, where payment is made later over time.
History of money
This document provides a history of the development of money. It begins with bartering and the use of shells as early forms of currency. It then discusses the introduction of coinage in Lydia in 600 BC and the later development of paper money in China in the 9th century. It also briefly outlines the gold standard, development of credit cards, and different types and functions of modern currencies like commodity, fiat, fractional, and fiduciary money.
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The document summarizes key aspects of money, banking, and the Federal Reserve system in the U.S. It discusses the evolution and functions of money, the development of modern banking including the creation of the Fed, and the Fed's role in monetary policy. Specifically, it describes money as a medium of exchange, store of value, and measure of value. It also outlines the M1 and M2 components of the money supply and how the banking system has developed from barter to commodity money to fiat currency issued by private and national banks, leading to the creation of the Fed as the nation's central bank in 1913.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
For Order Online:
Whatsapp: +923452502478
Portfolio Link: https://blueprismacademia.wordpress.com/
Email: arguni.hasnain@gmail.com
Follow Me:
Linkedin: arguni_hasnain
Instagram : arguni.hasnain
Facebook: arguni.hasnain
Paper money and Quality of Paper Money
Paper money refers to documents that represent money such as banknotes, bills of exchange, and postal orders. There are three types of paper money: representative paper money which is fully backed by metal reserves, convertible paper money which can be converted to coins on demand, and fiat paper money which is not redeemable for gold or silver but is accepted as legal tender.
The merits of paper money include low production costs, convenience, difficulty to counterfeit, uniform quality, ability to adjust the money supply elastically, saving of precious metals, ease of counting, and portability. Demerits are the risk of demonetization by the government, instability due to exchange rate fluctuations, potential for excessive issuance
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The document defines money as anything generally acceptable as a medium of exchange, measure of value, and standard of deferred payment. It discusses the primary functions of money as a medium of exchange and common measure of value, and secondary functions as a standard of deferred payment, store of value, and means of transferring value. The document also mentions contingent functions of money and describes the barter system and its difficulties, including lack of a common measure and double coincidence of wants. It defines different measures of money supply used in India, such as M1, M2, M3, and M4.
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The document discusses international financial market instruments and international financial institutions. It describes various types of international bonds such as foreign bonds, eurobonds, global bonds, and floating rate notes. It also discusses short and medium term instruments like euro notes, euro commercial paper, and medium term euro notes. The document then provides details on international financial institutions like the World Bank Group, International Monetary Fund, and regional development banks; and describes their common goal of reducing poverty and supporting sustainable development.
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Money has several key advantages over barter systems. It acts as a medium of exchange, overcoming the problem of a lack of double coincidence of wants. Money also serves as a unit of account and common measure of value. It can be stored as a way to save value over time. Money further allows for deferred payments through contracts over future exchanges. Overall, money facilitates the smooth exchange of goods and services that enables complex modern economies and trade.
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One Art
1) The poem discusses the art of losing and how it is not difficult to master.
2) Many small losses occur every day, such as losing keys or forgetting names and places, and these should be accepted as natural occurrences rather than disasters.
3) While larger losses, like losing a family heirloom watch or houses, are more difficult, they too can be faced without being a disaster if one practices experiencing loss on a regular basis.
ONE ART by Elizabeth Bishop
The poem explores the theme of loss through the speaker's assertion that "the art of losing isn't hard to master." Over the course of the poem, the speaker describes losing increasingly significant people and possessions, from small everyday items to loved ones and homes. By the end, it is evident the speaker has not truly mastered their sadness over losing the person referred to as "you." While insisting loss is not difficult, the poem ultimately suggests some losses are more difficult to accept than others.
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The document discusses how fractional-reserve banking allows banks to create money through the money multiplier effect. It provides scenarios to illustrate this, showing how an original $1000 deposit can expand the money supply to $5000 through loans made by multiple banks. It also covers theories of money demand, how the Federal Reserve uses tools like open market operations and reserve requirements to influence the money supply, and reasons why the Fed cannot precisely control the money supply.
Fiscal Policy
Fiscal policy involves changes to government spending and taxes to influence economic activity. Expansionary fiscal policy includes increasing spending or decreasing taxes, while contractionary policy means decreasing spending or increasing taxes. The purpose is to achieve long-run growth, full employment, and stable prices. While tax increases may raise revenues up to a point, the Laffer Curve shows revenues decline beyond a certain tax rate as incentives to work and invest diminish.
The Money Supply
The document provides an overview of the money supply and the Federal Reserve System in the United States. It defines different measures of money including M1, M2 and discusses how banks create money through fractional reserve banking. It then explains the role of the Federal Reserve in controlling the money supply through tools like required reserve ratios, open market operations, and interest rates.
Monetary policy
Monetary policy is the process by which a central bank like the RBI controls the supply of money and availability of money by targeting interest rates. It does this in order to achieve objectives oriented toward stable prices and maximum sustainable economic growth. Monetary policy involves either expanding or contracting the money supply by lowering or raising interest rates.
Monetary policy AND TYPES
Monetary policy is used by central banks to control the supply of money and regulate credit in order to promote economic growth and stability. There are two types: expansionary policy aims to reduce unemployment by increasing the money supply during recessions, while contractionary policy aims to reduce inflation by decreasing the money supply during expansions. The tools for changing the money supply include open market operations, interest rates, and reserve ratios.
Monetary policy
Monetary policy aims to control the money supply and interest rates to promote economic growth and stability. The objectives of monetary policy differ for developed and underdeveloped countries. Underdeveloped countries aim to achieve full employment and economic growth, while developed countries focus on high demand without inflation. Monetary policy tools include open market operations, required reserves, and interest rates. Central banks target variables like money supply and interest rates to indirectly influence macroeconomic goals like inflation and growth. The State Bank of Pakistan has utilized tight and easy monetary stances over the years in response to economic conditions, aiming to balance objectives like inflation, growth, and stability.
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This document discusses monetary policy and how it is used by central banks to control the supply of money and achieve goals such as price stability. It describes expansionary and contractionary monetary policy and how central banks use tools like open market operations and adjusting required reserve ratios. Open market operations work by buying or selling government bonds to commercial banks and the public to increase or decrease bank reserves and the overall money supply. The goals of monetary policy are outlined as price stability, high employment, economic growth, stability of financial markets, and stability in foreign exchange markets.
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The document provides an overview of key concepts related to money and the Federal Reserve System. It defines money as anything that serves as a medium of exchange, unit of account, and store of value. It also discusses the functions and properties of money, different types of money including commodity and fiat money, and definitions of the money supply including M1, M2, and M3. Additionally, the summary explains the role of the Federal Reserve System in controlling the money supply and supervising banks, as well as other organizations like the FDIC that insure bank deposits.
The role of money in the Macro Economy
Money plays a key role in modern economies by facilitating transactions and influencing economic activity. It allows specialization and exchange to occur more efficiently than a barter system. Central banks aim to control the money supply to promote growth, employment and price stability. While money solves issues with barter, uncontrolled increases in the money supply can cause inflation and reduce its value. Financial institutions and markets help stimulate economic development by transferring funds from savers to borrowers.
Money and banking
This document defines money and discusses its functions and evolution. It notes that money acts as a medium of exchange, store of value, and unit of account. Originally barter and commodities were used, but money developed to solve difficulties with barter. Coins and paper money later replaced commodities as money. Modern money includes coins, paper notes, and checkable deposits. Central banks control money supply and commercial banks create credit and accept deposits.
Money and banking
The document provides an overview of the evolution of money and the monetary system in India. It discusses the development from barter systems to various forms of money like commodity money, metallic money, paper money, and digital money. It describes the functions of money as a medium of exchange, store of value, and standard of deferred payments. It also discusses key concepts like the money supply and its components, sources of money supply, the role of the central bank (Reserve Bank of India) and commercial banks in money creation through credit. It provides definitions of legal tender money and different measures of money supply used in India.
14 & 15_money_&_the_fed
The document provides an overview of money and banking concepts including the functions of money, types of money, and properties of money. It also summarizes the role of the Federal Reserve in regulating the US money supply through tools like open market operations, changing reserve requirements, and adjusting interest rates. The Federal Reserve aims to promote price stability and maximum employment through its monetary policy decisions.
Introduction to Money and Banking.pptx
This document provides an introduction to money and banking, including:
- Definitions of money, monetary systems, and the functions of money as a medium of exchange, unit of account, and store of value.
- The three main types of money are commodity money, fiat money, and fiduciary money, with most modern systems using fiat.
- Banks play a key role through fiduciary money in the form of demand deposits, and their functions include facilitating loans and credit.
- Characteristics of effective money include durability, portability, divisibility, uniformity, and limited supply to maintain value.
- Advantages of paper fiat money over commodities are that it is
Introduction to Money and Banking.pptx
This document provides an introduction to money and banking, including:
- Definitions of money, monetary systems, and the functions of money as a medium of exchange, unit of account, and store of value.
- The three main types of money are commodity money, fiat money, and fiduciary money, with most modern systems using fiat.
- Banking topics covered include the scope of bank operations, functions of banking, and monetary theories.
- Characteristics of effective money are discussed, such as durability, portability, divisibility, uniformity, and limited supply.
Money
This document provides an overview of money, including its definition, evolution, characteristics, types, functions, demand and supply. It defines money as anything widely used and accepted in transactions. Money has evolved from commodity money backed by precious metals to modern fiat currency not backed by any commodity. Key characteristics include durability, divisibility, transportability and limited supply. The main types discussed are commodity, fiat and bank money. Functions of money include serving as a unit of value, medium of exchange, store of value and standard for deferred payments. Demand is influenced by transactions, precautionary and speculative motives, while supply includes currency and bank deposits measured by indicators like M1, M2 and M3.
INTRODUCTION.pptx
This document provides an overview of key concepts related to money, banking, and finance. It begins by outlining learning goals and chapter topics, including describing inflation and deflation, the functions and types of money, measures of the money supply, how banks create money, and categories and functions of nonbank financial institutions. It then delves into explanations of these topics, such as how commercial banks create money through lending, the role of central banks, and examples of historical financial bubbles like the Dutch tulip bubble and the 1929 stock market crash.
Money And The Financial System
Money evolved from barter systems through the use of commodities as a medium of exchange and store of value. The development of coinage and paper money based on gold and silver standards addressed issues with bartering and established money as a unit of account. The establishment of fractional reserve banking through goldsmiths further developed money by allowing the creation of paper claims that functioned as money. The Federal Reserve System was created in 1913 to oversee banking and monetary policy by regulating the money supply and financial system.
Chapter no 1 Nature and functions of money
This document provides an overview of money and its functions. It defines money and outlines its main functions, which include being a medium of exchange, measure of value, store of wealth, and enabling future payments and economic activities. The document also discusses the evolution of money from commodity to metallic to paper to electronic forms. It lists the key qualities of good money, such as acceptability, transferability, stability, and divisibility. Finally, it describes the barriers of the barter system and highlights the important role money plays in daily life and the economy.
Money
Money functions as a medium of exchange, unit of account, and store of value. There are different forms of money including commodity money, fiat money, fiduciary money, and commercial bank money. The traditional barter system was replaced by money to overcome limitations like the lack of a double coincidence of wants. Demonetization in India in 2016 aimed to reduce corruption and black money but also caused short-term cash shortages and economic difficulties.
Money and Monetary Policy
Money serves three main functions: as a medium of exchange to facilitate transactions, as a store of value that maintains purchasing power over time, and as a unit of account that provides a common measure of value. The Philippine financial system consists of the Bangko Sentral ng Pilipinas which regulates monetary policy, banks that accept deposits and make loans, and non-bank financial institutions like insurance companies and investment houses.
Money & Banking
This document discusses the key concepts of money and banking. It defines money as anything generally accepted as a medium of exchange, like currency notes and coins. Money serves four main roles: as a medium of exchange, unit of account, store of value, and standard for deferred payment. Historically, money has taken the form of commodity money, backed by valuables like gold, and fiat money, which is not backed but widely accepted. Modern forms of money include currency, checkable deposits in banks, and various types of paper money not backed by commodities. For a currency to function well as money, it should have properties of portability, divisibility, durability and recognizable value.
Al 13 - chapter 7
This document provides an overview of monetary and banking systems. It defines money and discusses its origins, characteristics, types, and functions. It examines the demand for money, including transactions, precautionary, and speculative demand. It also discusses the money supply in Sri Lanka and classifies it into different monetary aggregates like M1 (narrow money supply), M2 (broad money supply), and M2b (consolidated broad money). Finally, it discusses the role of the central bank in providing monetary aggregates and regulating the financial system.
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Affirmative Action
Affirmative action policies aim to promote equal access to education, employment, and housing by providing preferential treatment to minorities and women. It has a legal history dating back to the 14th amendment and Brown v. Board of Education, though its preferential treatment approach is debated as it could be seen as reverse discrimination that helps those not directly harmed by past discrimination.
Rights Of The Accused Notes
The document outlines the rights of the accused in a criminal case, including the right to not be subject to unreasonable searches or seizures, the right to be informed of Miranda rights during arrest, the right to not have a coerced confession, the right to a speedy and public jury trial with protections against self-incrimination and the right to confront witnesses, and the right to not be subject to double jeopardy, cruel/unusual punishment, or have the ability to appeal the jury's verdict.
GDP
Gross Domestic Product, or GDP, is a measurement of the total market value of all final goods and services produced within a country in a given period of time, usually a year. GDP is used to indicate the overall economic performance and health of a nation's economy. It excludes production that occurs abroad and only includes "new" domestic production, not used goods. GDP has limitations as it does not account for non-market activities, distribution of goods, leisure time, or negative externalities like pollution.
Economic Function of Government
The government serves four main functions in the economy:
1) Regulate business to prevent abuses of workers and consumers, limit negative externalities like pollution, and promote competition.
2) Provide public goods like national defense, infrastructure, and education that benefit all citizens.
3) Redistribute income through social insurance programs that citizens pay into, like Social Security, and welfare programs that provide assistance regardless of income.
4) Ensure economic stability by maintaining low unemployment and inflation rates.
Factors that Encourage Govt Growth
Population growth in the United States from 13.5 million people in 1776 to over 300 million people in 2006 increased demand for government services. Changing public attitudes supported more government intervention during the Great Depression as unemployment and homelessness rose. As the standard of living increased, citizens expected new government programs to meet wants and improve goods and services. National emergencies like wars also caused the government to expand rapidly to address issues like increasing the number of employees from 400,000 in 1914 to 850,000 by 1918 during World War I.
Budget Tax Debt
The federal budget process involves the President working with the Office of Management and Budget to develop a budget that is then sent to Congress for approval, though the budget is often not passed until after the fiscal year has begun. The document also outlines various principles of taxation such as benefits-received, ability-to-pay, and different forms of taxation like proportional, progressive, and regressive taxes. Additionally, it discusses deficit spending, the national debt, and how interest paid on the debt has increased significantly from 1940 to 2000, with the greatest growth occurring from 1980 to 1990.
The Bureaucracy
The document discusses the structure and organization of the federal bureaucracy in the United States. It describes how the bureaucracy implements public policy through specialized staff selected based on expertise. It is organized hierarchically and aims to apply rules impartially. The bureaucracy has grown significantly over time and now includes cabinet departments, independent agencies, and government organizations. It implements the federal budget and is subject to congressional oversight while also having some autonomous authority.
Legislative Branch Notes
The document summarizes the structure and powers of the United States Congress. It describes Congress as a bicameral legislative body consisting of the House of Representatives and the Senate. It outlines the qualifications, terms, and election processes for both chambers. It also discusses the powers of Congress, including expressed powers directly granted by the Constitution as well as implied powers.
Foundations Of Govt 1
This document discusses different types of governments including unitary, confederate, federal, presidential, parliamentary, and dictatorship governments. It also discusses key aspects of democracy and the American system of government, noting that it draws from ideas during the Enlightenment period as well as the English political tradition while establishing a new federal republic with separation of powers.
Business Cycle & Unemployment
The document discusses the business cycle and unemployment. It describes the business cycle as alternating periods of economic growth and contraction. It also explains that unemployment occurs when total spending falls and businesses produce less, and defines the unemployment rate as the percentage of the total population aged 16 and over that is without jobs and actively seeking work. It then outlines different types of unemployment such as seasonal, frictional, structural, and cyclical unemployment.
Corporations Notes
Corporations are legally distinct entities that can own property, hire workers, make contracts, pay taxes, sue and be sued, and make and sell products. To form a corporation, articles of incorporation are filed that include the corporate name, purpose, address, fundraising methods, expected funds to be raised, and names and terms of corporate officers. There are two main types of corporations: private corporations owned by individuals or groups and not offering public ownership, and public corporations owned by large numbers of investors through purchased stock shares. Corporations combine to expand either by building new facilities or through legal mergers, which unify two companies, or acquisitions, where one company purchases another.
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Money & The Fed
- 1. Money and the Federal Reserve System 1
- 2. barter The direct exchange of one good for another good, rather than for money 2
- 3. What is the problem with barter? It requires a coincidence of wants 3
- 4. money Anything that serves as a medium of exchange, unit of account, and store of value 4
- 5. advantage of money simplifies and therefore increases market transactions 5
- 6. functions of money • Medium of exchange • Unit of account • Store of value 6
- 7. medium of exchange widely accepted in exchange for goods and services 7
- 8. unit of account (standard of value) provide a common measurement of value of goods and services 8
- 9. store of value ability of money to hold value over time 9
- 10. Are credit cards money? No, credit cards fail to meet the store-of-value criterion and are therefore not money 10
- 11. What are other properties of money? Money must be … • portable • divisible • uniform • acceptable 11
- 12. Is our money backed by gold or silver? No, our paper money was exchangeable for gold until 1934, and in 1963 Congress removed the right to exchange $1 bills for silver 12
- 13. fiat money Money accepted by law and not because of redeemability or intrinsic value 13
- 14. What makes our dollar bills fiat money? All our bills claim that “This note is legal tender for all debts public and private” 14
- 15. legal tender Legally dollar bills cannot be refused as payment for a debt 15
- 16. currency Money, including coins and paper money 16
- 17. the Federal Reserve System The 12 central banks that service banks and other financial institutions within each of the Federal Reserve districts 17
- 18. 18
- 19. Ben Bernanke Chairman of the Board of Governors of the Fed 19
- 20. What does a federal reserve bank do? • Controls the money supply • Clears checks • Supervises and regulates banks • Maintains and circulates currency • Protects consumers • Maintains federal government checking accounts and gold 20
- 21. What is the Federal Deposit Insurance Corporation? The FDIC is a government agency established in 1933 to insure commercial bank deposits up to a specified limit 21