What are the functions of Federal Reserveissue federal reserve not.pdf
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What are the functions of Federal Reserve issue federal reserve notes set reserve payment lend money to financial institutions act as fiscal agent for the federal government supervise operations of the banks regulate supply of money What happens during Financial Crisis of 2007 and 2008? the country experienced worst financial crisis since great depression What were the causes? Mortgage default crisis Why? government programs Solution Federal performs all the acitvities: issue federal reserve notes,set reserve payment, lend money to financial institutions, act as fiscal agent for the federal government, supervise operations of the banks and regulate supply of money. during the period the subprime crisis was happend in US, where majority of the banks were suffered to recover loans on houses. and lakhs of people lost their jobs and strugled to survive. major banks like Lehman brothers, motors companies like GM were pur bankruptcy. notes and coins both can be printed by Federa Reserve only..
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76CHAPTER 4Federal Reserve SystemL E A R N I N G .docx
76
CHAPTER 4
Federal Reserve System
L E A R N I N G O B J E C T I V E S
After studying this chapter, you should be able to do the following:
LO 4.1 Discuss how the Federal Reserve System (Fed) responded to the recent fi nancial
crisis and Great Recession.
LO 4.2 Identify three weaknesses of the national banking system that existed before the
Federal Reserve System was created.
LO 4.3 Describe the Federal Reserve System and identify the fi ve major components into
which it is organized.
LO 4.4 Identify and describe the policy instruments used by the Fed to carry out monetary
policy.
LO 4.5 Discuss the Fed’s supervisory and regulatory functions.
LO 4.6 Identify important Fed service functions.
LO 4.7 Identify specifi c examples of foreign countries that use central banking systems to
regulate money supply and implement monetary policy.
W H E R E W E H A V E B E E N . . .
In Chapter 3 we discussed the types and roles of fi nancial institutions that have evolved in
the United States to meet the needs of individuals and businesses and help the fi nancial sys-
tem operate effi ciently. We also described the traditional diff erences between commercial
banking and investment banking, followed by coverage of the functions of banks (all depos-
itory institutions) and the banking system. By now you also should have an understanding of
the structure and chartering of commercial banks, the availability of branch banking, and the
use of bank holding companies. You also should now have a basic understanding of the bank
balance sheet and how the bank management process is carried out in terms of liquidity and
capital management. Selected information also was provided on international banking and
several foreign banking systems.
W H E R E W E A R E G O I N G . . .
The last two chapters in Part 1 address the role of policy makers in the fi nancial system and
how international trade and fi nance infl uence the U.S. fi nancial system. In Chapter 5 you will
have the opportunity to review economic objectives that direct policy-making activities. We
Copyright © 2017 John Wiley & Sons, Inc.
4.1 U.S. Central Bank Response to the Financial Crisis and Great Recession 77
then briefl y review fi scal policy and how it is administered through taxation and expenditure
plans. This is followed by a discussion of the policy instruments employed by the U.S.
Treasury and how the Treasury carries out its debt management activities. You will then see
how the money supply is changed by the banking system, as well as develop an understand-
ing of the factors that aff ect bank reserves. The monetary base and the money multiplier also
will be described and discussed. Chapter 6 focuses on how currency exchange rates are
determined and how international trade is fi nanced.
H O W T H I S C H A P T E R A P P L I E S T O M E . . .
Actions taken by the Fed impact your ability to borrow money and the cost of, or i.
Us Credit Crisis and Feds Response
The presentation about US Credit Crisis 2008 and Feds Response to it.
JWU April 2010 speech
Slides I used in my Distinguished Visiting Professor Lecture at Johnson & Wales University April 22,, 2010
SMETimes Oct 6, 2008 Financial Tsunami - What Brought It On
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS.
Recommended
76CHAPTER 4Federal Reserve SystemL E A R N I N G .docx
76
CHAPTER 4
Federal Reserve System
L E A R N I N G O B J E C T I V E S
After studying this chapter, you should be able to do the following:
LO 4.1 Discuss how the Federal Reserve System (Fed) responded to the recent fi nancial
crisis and Great Recession.
LO 4.2 Identify three weaknesses of the national banking system that existed before the
Federal Reserve System was created.
LO 4.3 Describe the Federal Reserve System and identify the fi ve major components into
which it is organized.
LO 4.4 Identify and describe the policy instruments used by the Fed to carry out monetary
policy.
LO 4.5 Discuss the Fed’s supervisory and regulatory functions.
LO 4.6 Identify important Fed service functions.
LO 4.7 Identify specifi c examples of foreign countries that use central banking systems to
regulate money supply and implement monetary policy.
W H E R E W E H A V E B E E N . . .
In Chapter 3 we discussed the types and roles of fi nancial institutions that have evolved in
the United States to meet the needs of individuals and businesses and help the fi nancial sys-
tem operate effi ciently. We also described the traditional diff erences between commercial
banking and investment banking, followed by coverage of the functions of banks (all depos-
itory institutions) and the banking system. By now you also should have an understanding of
the structure and chartering of commercial banks, the availability of branch banking, and the
use of bank holding companies. You also should now have a basic understanding of the bank
balance sheet and how the bank management process is carried out in terms of liquidity and
capital management. Selected information also was provided on international banking and
several foreign banking systems.
W H E R E W E A R E G O I N G . . .
The last two chapters in Part 1 address the role of policy makers in the fi nancial system and
how international trade and fi nance infl uence the U.S. fi nancial system. In Chapter 5 you will
have the opportunity to review economic objectives that direct policy-making activities. We
Copyright © 2017 John Wiley & Sons, Inc.
4.1 U.S. Central Bank Response to the Financial Crisis and Great Recession 77
then briefl y review fi scal policy and how it is administered through taxation and expenditure
plans. This is followed by a discussion of the policy instruments employed by the U.S.
Treasury and how the Treasury carries out its debt management activities. You will then see
how the money supply is changed by the banking system, as well as develop an understand-
ing of the factors that aff ect bank reserves. The monetary base and the money multiplier also
will be described and discussed. Chapter 6 focuses on how currency exchange rates are
determined and how international trade is fi nanced.
H O W T H I S C H A P T E R A P P L I E S T O M E . . .
Actions taken by the Fed impact your ability to borrow money and the cost of, or i.
Us Credit Crisis and Feds Response
The presentation about US Credit Crisis 2008 and Feds Response to it.
JWU April 2010 speech
Slides I used in my Distinguished Visiting Professor Lecture at Johnson & Wales University April 22,, 2010
SMETimes Oct 6, 2008 Financial Tsunami - What Brought It On
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS.
Econ315 Money and Banking: Learning Unit 19: Banking Industry and Regulation
Banking Industry and Regulation
There are three (3) types of textbook based homework items locate.docx
There are three (3) types of textbook based homework items located at the end of each chapter. These include Review Questions (RQ), Exercises (E), and Problems (P). Some homework items have been custom created.
Complete the following from the textbook:
Chapter 4: E2
E2. As the executive of a bank or thrift institution you are faced with an intense seasonal demand for loans. Assuming that your loanable funds are inadequate to take care of the demand, how might your Reserve Bank help you with this problem?
Chapter 5: P1, P6
P1. Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilities for Banc One immediately after the deposit is received.
P6. Assume a financial system has a monetary base of $25 million. The required reserves ratio is 10 percent, and there are no leakages in the system. a. What is the size of the money multiplier? b. What will be the system’s money supply?
76
CHAPTER 4
Federal Reserve System
L E A R N I N G O B J E C T I V E S
After studying this chapter, you should be able to do the following:
LO 4.1 Discuss how the Federal Reserve System (Fed) responded to the recent fi nancial
crisis and Great Recession.
LO 4.2 Identify three weaknesses of the national banking system that existed before the
Federal Reserve System was created.
LO 4.3 Describe the Federal Reserve System and identify the fi ve major components into
which it is organized.
LO 4.4 Identify and describe the policy instruments used by the Fed to carry out monetary
policy.
LO 4.5 Discuss the Fed’s supervisory and regulatory functions.
LO 4.6 Identify important Fed service functions.
LO 4.7 Identify specifi c examples of foreign countries that use central banking systems to
regulate money supply and implement monetary policy.
W H E R E W E H A V E B E E N . . .
In Chapter 3 we discussed the types and roles of fi nancial institutions that have evolved in
the United States to meet the needs of individuals and businesses and help the fi nancial sys-
tem operate effi ciently. We also described the traditional diff erences between commercial
banking and investment banking, followed by coverage of the functions of banks (all depos-
itory institutions) and the banking system. By now you also should have an understanding of
the structure and chartering of commercial banks, the availability of branch banking, and the
use of bank holding companies. You also should now have a basic understanding of the bank
balance sheet and how the bank management process is carried out in terms of liquidity and
capital management. Selected information also was provided on international banking and
several foreign banking systems.
W H E R E W E A R E G O I N G . . .
The last two chapters in Part 1 address the role of policy makers in the fi nancial system and
how international trade and fi nance infl uence the U.
1. Do you believe that the US government treated some financial in.docx
1. Do you believe that the US government treated some financial institutions differently during the crisis? Was that appropriate?
The issue faced by Lehman Brothers is just a consequence of bad decisions from many parties involved. The fact that this investment bank had been the only one that didn't receive any governmental help, begs the question why the US government did not struggle to let Lehman Brothers survive. Many issues were out of control. Merrill Lynch, another major investment bank, was also facing a similar situation. After an emergency meeting called by the Federal Reserve (Fed); Bank of America announced its decision to buy Merrill Lynch.
The Investment banks Morgan Stanley, JP Morgan, and Golden Sachs were called by the Fed to find a way to rescue Lehman; however, no bank was interested in investing in the firm (Ferguson 2010). Just one week before Lehman’s bankruptcy, Fannie Mae, and Freddy Mac had to bail out with the intervention of the US Treasury and the Fed. Two days after its bankruptcy, the Fed provided $85 billion loan to American International Group (AIG) as an insurance conglomerate to prevent its failure (Elteman et al 2011, 132 – 134). Both, Fed and Treasury, argued that while Lehman could not post sufficient security in affording reasonable assurance that a loan from the Fed would be repaid, the Fed credit was adequately secured by AIG’s assets (USNews 2008).
Whether US government position was appropriate or not, depends on the interest of the parties involved. Hank Paulson, the US Treasury Secretary said, bailing out Lehman Brothers might still not be enough to halt the large crisis. Although it is true that the US government’s threat was not the same among the institutions affected by the crisis, it is also true that the firm was facing the effect of putting itself in too much risk for high profits. Merrill Lynch was also facing the same problem at that time; however, because of the pressure from the US Treasury and some Fed regulators, it was acquired by Bank of America (Mybanktracker.com 2009).
The intervention of the government through those institutions was highly criticized. They didn't look the same interest in Lehman Brothers case, and when British regulators from Barclays, the only bank interested in buy the firm demanded financial warranty from the US Government; both Hank Paulson, and Ben Bernanke, FED Chairman 2008; were reluctant arguing that bail out Lehman was just unfeasible, whenever the Treasury did not have the authority to absorb billions of dollars of expected losses to facilitate Lehman’s acquisition by another firm (USNews 2008). At the end, the firm was the scapegoat who faced the consequences of an uncontrolled financial system, and its fall was seen as a wake- up call in dealing with the ensuring financial crisis.
2. Many experts argue that when the government bails out a private financial institution it creates a problem called “moral hazard“, meaning that if the institution knows it w ...
Subprime Mortgage Crisis Powerpoint Presentation Slides
Introducing Subprime Mortgage Crisis PowerPoint Presentation Slides. The presentation highlights the impact of the financial crisis of the year in percentages. Take the advantage of our ready-to-use PPT template to showcase fall in housing prices, unemployment, etc. during a crisis. The impact of a great recession on investment banks is also discussed in this presentation. This content-ready slide design also illustrates the significant financial bubble burst of financial years. Highlight the cost of the financial crisis and its key members. The effects of the crisis on the economy of the US can be effectively discussed using our PPT theme. Showcase how the crisis started spreading in various other parts of the country with the use of this PPT visual. Depict how CDO customers protect themselves during the recession. Explain the effect of subprime in many countries with this PPT theme. Further, describe the current scenario after a decade of a financial crisis in the US. Explain fed tapering, quantitative easing, etc. effectively by using this PPT slideshow. At last, the presentation discusses the vision, mission, and goals of the company. https://bit.ly/2PeSvsw
What are the similarities and differences between the major politica.pdf
What are the similarities and differences between the major political, economic, and social
developments in the first half of the twentieth century and those in the second half of the
century?
Solution
Similarities: There were some similarities between the first half and second half of twentieth
century. In both times, world economy was chacterised by the fluctuations and there was tug of
war for usurping the political power. In both time whole world was divided between the two
parts. Both times, world leader were seeking to establish the peace and tranquilities.
Differences: In the second half, unlike the first half, many countries got freedom from
colonialism and they started fight for equal status in the international arena. Social and economic
development got the preference over the colonialism. World was divided in the two blocks one
being represented by the USSR and another by USA. Both blocks were giving many incentives
to enlist the support of developing countries..
What are the properties of a normal distribution Why there are an i.pdf
What are the properties of a normal distribution? Why there are an infinite number of normal
distributions? Do you want to assume that your sample data represent a population distribution?
Solution
Properties: Function f(x) is unimodal and symmetric around the point x = µ, which
is at the same time the mode, the median and the mean of the distribution.[8] The inflection
points of the curve occur one standard deviation away from the mean (i.e., at x = µ - s and x = µ
+ s).[8] Function f(x) is log-concave.[8] The standard normal density ?(x) is an eigenfunction of
the Fourier transform. The function is supersmooth of order 2, implying that it is infinitely
differentiable.[9] The first derivative of ?(x) is ?\'(x) = -x·?(x); the second derivative is ?\'\'(x) =
(x2 - 1)?(x). More generally, the n-th derivative is given by ?(n)(x) = (-1)nHn(x)?(x), where Hn
is the Hermite polynomial of order n.[10] When s2 = 0, the density function doesn\'t exist.
However a generalized function that defines a measure on the real line, and it can be used to
calculate, for example, expected value is where d(x) is the Dirac delta function which is equal to
infinity at x = 0 and is zero elsewhere. The normal distribution is a continuous distribution
defined by two parameters, the mean and the variance. since the variance can be any positive
value and the mean can be any real value there are infinitely many different values for the mean
and for the variance..
What are the revenue classifications of the U.S. based for-hire air .pdf
What are the revenue classifications of the U.S. based for-hire air carriers? Define and describe
at least two of these classifications with examples.
Solution
of Airline Certification
U.S. scheduled airlines are classified by the government on the basis of the amount of revenue
generated from operations. These classifications are major, national and regional.
All airlines hold two certificates from the federal government: a fitness certificate and an
operating certificate. The Department of Transportation (DOT) issues fitness certificates - called
certificates of public convenience and necessity - under it\'s statutory authority. Basically, the
certificate establishes that the carrier has the financing and the management in place to provide
scheduled service. The certificate typically authorizes both passenger and cargo service. Some
airlines, however, obtain only cargo-service authority. Commuter airlines that use aircraft with a
seating capacity of 60 or fewer seats or a maximum payload capacity of no more than 18,000
pounds can operate under the alternative authority of Part 298 of DOT\'s economic regulations.
Operating certificates, on the other hand, are issued by the Federal Aviation Administration
(FAA) under Part 121 of the Federal Aviation Regulations (FARs), which spell out numerous
requirements for operating aircraft with 10 or more seats. The requirements cover such things as
the training of flight crews and aircraft maintenance programs. All majors, nationals and
regional\'s operate with a Part 121 certificate.
Majors
Major airlines generate operating revenues of more than $1 billion annually. Previously called
trunk carriers, they generally provide nationwide, and in some cases, worldwide service. There
are many major U.S. passenger airlines such as: Alaska, American, American Eagle, Continental,
Delta, Northwest, Southwest, United and US Airways. In addition, some cargo airlines are
classified as majors like: FedEx and United Parcel Service.
Nationals
National carriers are scheduled airlines with annual operating revenues between $100 million
and $1 billion. Many of the airlines in this category serve particular regions of the country,
although some provide long-haul and even international service. Among the nationals are some
of the former local service lines that, prior to deregulation, were licensed by the Civil
Aeronautics Board (CAB) to operate between major cities and smaller communities surrounding
them. Also in this category are some of the former supplemental carriers, previously licensed by
the CAB to operate unscheduled charter service, which supplemented the capacity of the trunk
carriers.
Like the majors, nationals operate mostly medium- and large-sized jets. They are subject to DOT
fitness requirements, as well as the FAA Part 121 operating requirements. Some of the nationals
you may have heard of in the past include companies like Aloha, Atlas Air, Emery Worldwide,
Evergreen, Hawaiian, Midwest Express and Polar .
What are the requirements that must be met before the Kruskal-Wallis.pdf
What are the requirements that must be met before the Kruskal-Wallis one-way analysis of
variance by ranks test can be applied?
Solution
there are foolwing limitations and assumptions for this method Limitations: Only
oneindependent variable Assumptions: Samples are randomly selected. Samples are
representative of the populations. Samples are independent of one another. The original variable
that was measured was a continuousrandom variable (this assumption is often violated – no idea
if that’s OK or not, but Sheskin does not seem to think it is a big deal). The distributions of the
populations are identical in shape. i hope it would help you.
What are the psychometric properties of The MBTI for bulimia and or.pdf
What are the psychometric properties of The MBTI for bulimia and /or eating disorders?
Solution
The Myers-Briggs Type Indicator® (MBTI®) instrument is a questionnaire
designed to make Jung’s ideas about psychological type useful in everyday life. It identifies a
person’s four basic type preferences that combine into one of 16 different personality types.
These results help you understand normal differences in the way people think, communicate, and
interact—differences that can be the source of much misunderstanding. The MBTI instrument
has been used for more than 50 years to establish greater understanding between individuals, and
has been translated into more than 15 different languages for use around the world. Research
conducted on the MBTI tool has shown that the results it provides are reliable and valid. The
MBTI tool’s reliability statistics are excellent, and its validity has been firmly established in
hundreds of separate studies. Reliability refers to whether the results are consistent: Do people
tend to reply to the items in the same way when they take the test later, and do they tend to get
the same type? Can you count on the results? Validity refers to the instrument’s ability to
measure psychological type and apply Jung’s theory. Technical information on the research and
psychometric properties underlying the instrument are published in the MBTI® Manual and in
other scientific publications..
What are the pros and cons of an intranet-based performance manageme.pdf
What are the pros and cons of an intranet-based performance management system compared to a
paper based system?
Solution
Pros of an intranet based management system: 1. Information can be transmitted at a very fast
rate. Almost instantly. 2. Mobility of data and information. A person sitting in the UK office can
access files on the intranet from the US office. 3. Real-time updates can be sent to employees at
various locations globally 4. Company can achieve the go-green initiative by using less paper so
it is environmental friendly Cons of an intranet based management system: 1. Information can
be misused as it is so easily available 2. Cyber crime can be a threat to the organization 3. Cost
of implementing the intranet is high as compared to a paper based management system 4.
Flexibility can be a concern if people cannot easily adapt to the intranet system.
what are the privacy and security issues of using CHINS-community he.pdf
what are the privacy and security issues of using CHINS-community health information network.
how we can solve these issues. provide articles.
Solution
?The application of CHINs in the implementation of disease management programmes has many
benefits including shared data, internal communication, external communication, value-added
applications, bonding and marketing presence. However, there are also problems and pitfalls of
an architectural and `emotional\' nature.
Source: Francois M.H.M. Dupuits(Maastricht University, Department of Family Medicine,
Maastricht, The Netherlands)
The Congress Office of Technology Assessment reported,.
What are the phases of SDLC Please select one of the SDLC phases an.pdf
What are the phases of SDLC? Please select one of the SDLC phases and describe it. What
should be accomplished in that phase?
Solution
Phases of SLDC (Software Development Life Cycle):
Let us describe “Requirement gathering and analysis” Phase of SLDC
Basically this is the start phase to gather and understand the business requirement. The main
focus to meet the client and focus of project managers is to engage the stakeholders. Meeting
with Stakeholders will help to determine the requirements such as who is going to use the
system? How will they use the system? What data should be input into the system? What data
should be output by the system? These are general questions that get answered during a
requirements gathering phase. Basically requirement is listed and scope of project is prepared.
An Action plan is prepared to create timelines and process management..
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What are the political and legal issues of South Africa. For instance the stability of the
government, legal issues of concern to four business, etc.
Solution
SOuth Africa is a growing nation with a long way to go. Though many polcies have been enacted
for socio economic prosperity, there are still many issues that serves as hurdle for economic
growth..
what are the primary differences between investor-owned and not for .pdf
what are the primary differences between investor-owned and not for profit corporations?
Solution
Investor owned corporation Not for profit organisation Owner Owned by the
shareholders Are not owned by shareholders Tax Corporations pay tax on the income Can
be tax expempt if are qualified. Objective The main objective is to maximize the wealth of
the shareholders The main objective is for the not maximize the wealth of the shareholders since
it does not have the shareholders but is pulic welfare Wind up At the time of windup the left
over assets are used to clear the debts and to pay the shareholders In the case of windup the
assets are used for the charitable purpose.
What are the policies usually advocated by supply side economics Ho.pdf
What are the policies usually advocated by supply side economics? How do they justify these
proposals?
Solution
Keynesian believes that consumers and their demand for goods and services are key economic
drivers, while a supply-sider believes that producers and their willingness to create goods and
services set the pace of economic growth.
Supply-side claims that demand is largely irrelevant. It says that over-production and under-
production are not sustainable phenomena. Supply-siders argue that when companies temporarily
\"over-produce,\" excess inventory will be created, prices will subsequently fall and consumers
will increase their purchases to offset the excess supply..
What are the five conditions necessary for the binomial distribution.pdf
What are the five conditions necessary for the binomial distribution to be appropriate
Solution
1) a fixed number of trails
2)each trail is independent of others
3)there are only two outcomes
4)the probability of each outcome remains constant from trail to trail.
What are the primary causes of job dissatisfactionSolutionThe.pdf
What are the primary causes of job dissatisfaction?
Solution
There are many people who are not happy with their jobs. Meaning they are not satisfied with
what they do day in and day out. Reasons can be many as different people will have a different
say about it. However, we can discuss the primary and common reasons or causes of job
dissatisfaction:.
What are the five pillars of faith Solution1) Shahadah2) .pdf
What are the five pillars of faith
Solution
1) Shahadah
2) Salah
3) Zakat
4) Sawm during Ramadan
5) Hajj
In Sunni Islam, theFive Pillars of Islam is the term given tothe five duties incumbent on every
Muslim. These duties areShahada (Profession ofFaith), Salat (Prayers), Zakat (Givingof Alms),
Sawm (Fastingduring Ramadan) and Hajj (pilgrimage toMecca). These fivepractices are
essential to Sunni Islam;Shi\'a Muslimssubscribe to eight ritual practices which substantially
overlapwith the five Pillars.[1]Twelvers have fivefundamentalbeliefs which relates to Aqidah.[2].
More Related Content
Similar to What are the functions of Federal Reserveissue federal reserve not.pdf
Econ315 Money and Banking: Learning Unit 19: Banking Industry and Regulation
Banking Industry and Regulation
There are three (3) types of textbook based homework items locate.docx
There are three (3) types of textbook based homework items located at the end of each chapter. These include Review Questions (RQ), Exercises (E), and Problems (P). Some homework items have been custom created.
Complete the following from the textbook:
Chapter 4: E2
E2. As the executive of a bank or thrift institution you are faced with an intense seasonal demand for loans. Assuming that your loanable funds are inadequate to take care of the demand, how might your Reserve Bank help you with this problem?
Chapter 5: P1, P6
P1. Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits. Prepare a simple balance sheet of assets and liabilities for Banc One immediately after the deposit is received.
P6. Assume a financial system has a monetary base of $25 million. The required reserves ratio is 10 percent, and there are no leakages in the system. a. What is the size of the money multiplier? b. What will be the system’s money supply?
76
CHAPTER 4
Federal Reserve System
L E A R N I N G O B J E C T I V E S
After studying this chapter, you should be able to do the following:
LO 4.1 Discuss how the Federal Reserve System (Fed) responded to the recent fi nancial
crisis and Great Recession.
LO 4.2 Identify three weaknesses of the national banking system that existed before the
Federal Reserve System was created.
LO 4.3 Describe the Federal Reserve System and identify the fi ve major components into
which it is organized.
LO 4.4 Identify and describe the policy instruments used by the Fed to carry out monetary
policy.
LO 4.5 Discuss the Fed’s supervisory and regulatory functions.
LO 4.6 Identify important Fed service functions.
LO 4.7 Identify specifi c examples of foreign countries that use central banking systems to
regulate money supply and implement monetary policy.
W H E R E W E H A V E B E E N . . .
In Chapter 3 we discussed the types and roles of fi nancial institutions that have evolved in
the United States to meet the needs of individuals and businesses and help the fi nancial sys-
tem operate effi ciently. We also described the traditional diff erences between commercial
banking and investment banking, followed by coverage of the functions of banks (all depos-
itory institutions) and the banking system. By now you also should have an understanding of
the structure and chartering of commercial banks, the availability of branch banking, and the
use of bank holding companies. You also should now have a basic understanding of the bank
balance sheet and how the bank management process is carried out in terms of liquidity and
capital management. Selected information also was provided on international banking and
several foreign banking systems.
W H E R E W E A R E G O I N G . . .
The last two chapters in Part 1 address the role of policy makers in the fi nancial system and
how international trade and fi nance infl uence the U.
1. Do you believe that the US government treated some financial in.docx
1. Do you believe that the US government treated some financial institutions differently during the crisis? Was that appropriate?
The issue faced by Lehman Brothers is just a consequence of bad decisions from many parties involved. The fact that this investment bank had been the only one that didn't receive any governmental help, begs the question why the US government did not struggle to let Lehman Brothers survive. Many issues were out of control. Merrill Lynch, another major investment bank, was also facing a similar situation. After an emergency meeting called by the Federal Reserve (Fed); Bank of America announced its decision to buy Merrill Lynch.
The Investment banks Morgan Stanley, JP Morgan, and Golden Sachs were called by the Fed to find a way to rescue Lehman; however, no bank was interested in investing in the firm (Ferguson 2010). Just one week before Lehman’s bankruptcy, Fannie Mae, and Freddy Mac had to bail out with the intervention of the US Treasury and the Fed. Two days after its bankruptcy, the Fed provided $85 billion loan to American International Group (AIG) as an insurance conglomerate to prevent its failure (Elteman et al 2011, 132 – 134). Both, Fed and Treasury, argued that while Lehman could not post sufficient security in affording reasonable assurance that a loan from the Fed would be repaid, the Fed credit was adequately secured by AIG’s assets (USNews 2008).
Whether US government position was appropriate or not, depends on the interest of the parties involved. Hank Paulson, the US Treasury Secretary said, bailing out Lehman Brothers might still not be enough to halt the large crisis. Although it is true that the US government’s threat was not the same among the institutions affected by the crisis, it is also true that the firm was facing the effect of putting itself in too much risk for high profits. Merrill Lynch was also facing the same problem at that time; however, because of the pressure from the US Treasury and some Fed regulators, it was acquired by Bank of America (Mybanktracker.com 2009).
The intervention of the government through those institutions was highly criticized. They didn't look the same interest in Lehman Brothers case, and when British regulators from Barclays, the only bank interested in buy the firm demanded financial warranty from the US Government; both Hank Paulson, and Ben Bernanke, FED Chairman 2008; were reluctant arguing that bail out Lehman was just unfeasible, whenever the Treasury did not have the authority to absorb billions of dollars of expected losses to facilitate Lehman’s acquisition by another firm (USNews 2008). At the end, the firm was the scapegoat who faced the consequences of an uncontrolled financial system, and its fall was seen as a wake- up call in dealing with the ensuring financial crisis.
2. Many experts argue that when the government bails out a private financial institution it creates a problem called “moral hazard“, meaning that if the institution knows it w ...
Subprime Mortgage Crisis Powerpoint Presentation Slides
Introducing Subprime Mortgage Crisis PowerPoint Presentation Slides. The presentation highlights the impact of the financial crisis of the year in percentages. Take the advantage of our ready-to-use PPT template to showcase fall in housing prices, unemployment, etc. during a crisis. The impact of a great recession on investment banks is also discussed in this presentation. This content-ready slide design also illustrates the significant financial bubble burst of financial years. Highlight the cost of the financial crisis and its key members. The effects of the crisis on the economy of the US can be effectively discussed using our PPT theme. Showcase how the crisis started spreading in various other parts of the country with the use of this PPT visual. Depict how CDO customers protect themselves during the recession. Explain the effect of subprime in many countries with this PPT theme. Further, describe the current scenario after a decade of a financial crisis in the US. Explain fed tapering, quantitative easing, etc. effectively by using this PPT slideshow. At last, the presentation discusses the vision, mission, and goals of the company. https://bit.ly/2PeSvsw
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There are three (3) types of textbook based homework items locate.docx
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What are the similarities and differences between the major political, economic, and social
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century?
Solution
Similarities: There were some similarities between the first half and second half of twentieth
century. In both times, world economy was chacterised by the fluctuations and there was tug of
war for usurping the political power. In both time whole world was divided between the two
parts. Both times, world leader were seeking to establish the peace and tranquilities.
Differences: In the second half, unlike the first half, many countries got freedom from
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development got the preference over the colonialism. World was divided in the two blocks one
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What are the properties of a normal distribution Why there are an i.pdf
What are the properties of a normal distribution? Why there are an infinite number of normal
distributions? Do you want to assume that your sample data represent a population distribution?
Solution
Properties: Function f(x) is unimodal and symmetric around the point x = µ, which
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points of the curve occur one standard deviation away from the mean (i.e., at x = µ - s and x = µ
+ s).[8] Function f(x) is log-concave.[8] The standard normal density ?(x) is an eigenfunction of
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differentiable.[9] The first derivative of ?(x) is ?\'(x) = -x·?(x); the second derivative is ?\'\'(x) =
(x2 - 1)?(x). More generally, the n-th derivative is given by ?(n)(x) = (-1)nHn(x)?(x), where Hn
is the Hermite polynomial of order n.[10] When s2 = 0, the density function doesn\'t exist.
However a generalized function that defines a measure on the real line, and it can be used to
calculate, for example, expected value is where d(x) is the Dirac delta function which is equal to
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value and the mean can be any real value there are infinitely many different values for the mean
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What are the revenue classifications of the U.S. based for-hire air .pdf
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Solution
of Airline Certification
U.S. scheduled airlines are classified by the government on the basis of the amount of revenue
generated from operations. These classifications are major, national and regional.
All airlines hold two certificates from the federal government: a fitness certificate and an
operating certificate. The Department of Transportation (DOT) issues fitness certificates - called
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pounds can operate under the alternative authority of Part 298 of DOT\'s economic regulations.
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the training of flight crews and aircraft maintenance programs. All majors, nationals and
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Majors
Major airlines generate operating revenues of more than $1 billion annually. Previously called
trunk carriers, they generally provide nationwide, and in some cases, worldwide service. There
are many major U.S. passenger airlines such as: Alaska, American, American Eagle, Continental,
Delta, Northwest, Southwest, United and US Airways. In addition, some cargo airlines are
classified as majors like: FedEx and United Parcel Service.
Nationals
National carriers are scheduled airlines with annual operating revenues between $100 million
and $1 billion. Many of the airlines in this category serve particular regions of the country,
although some provide long-haul and even international service. Among the nationals are some
of the former local service lines that, prior to deregulation, were licensed by the Civil
Aeronautics Board (CAB) to operate between major cities and smaller communities surrounding
them. Also in this category are some of the former supplemental carriers, previously licensed by
the CAB to operate unscheduled charter service, which supplemented the capacity of the trunk
carriers.
Like the majors, nationals operate mostly medium- and large-sized jets. They are subject to DOT
fitness requirements, as well as the FAA Part 121 operating requirements. Some of the nationals
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Solution
there are foolwing limitations and assumptions for this method Limitations: Only
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populations are identical in shape. i hope it would help you.
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?The application of CHINs in the implementation of disease management programmes has many
benefits including shared data, internal communication, external communication, value-added
applications, bonding and marketing presence. However, there are also problems and pitfalls of
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Source: Francois M.H.M. Dupuits(Maastricht University, Department of Family Medicine,
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The Congress Office of Technology Assessment reported,.
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Solution
Phases of SLDC (Software Development Life Cycle):
Let us describe “Requirement gathering and analysis” Phase of SLDC
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system? How will they use the system? What data should be input into the system? What data
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what are the primary differences between investor-owned and not for profit corporations?
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the shareholders The main objective is for the not maximize the wealth of the shareholders since
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What are the policies usually advocated by supply side economics Ho.pdf
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Solution
Keynesian believes that consumers and their demand for goods and services are key economic
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services set the pace of economic growth.
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What are the five conditions necessary for the binomial distribution.pdf
What are the five conditions necessary for the binomial distribution to be appropriate
Solution
1) a fixed number of trails
2)each trail is independent of others
3)there are only two outcomes
4)the probability of each outcome remains constant from trail to trail.
What are the primary causes of job dissatisfactionSolutionThe.pdf
What are the primary causes of job dissatisfaction?
Solution
There are many people who are not happy with their jobs. Meaning they are not satisfied with
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say about it. However, we can discuss the primary and common reasons or causes of job
dissatisfaction:.
What are the five pillars of faith Solution1) Shahadah2) .pdf
What are the five pillars of faith
Solution
1) Shahadah
2) Salah
3) Zakat
4) Sawm during Ramadan
5) Hajj
In Sunni Islam, theFive Pillars of Islam is the term given tothe five duties incumbent on every
Muslim. These duties areShahada (Profession ofFaith), Salat (Prayers), Zakat (Givingof Alms),
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What are the opportunities and threats facing Whole Foods Inc.S.pdf
What are the opportunities and threats facing Whole Foods Inc.?
Solution
In 1980 twenty-five year old college dropout John Mackey and twenty-one year old Rene
Lawson Hardy created the Whole Food Company (WFC) in Austin, Texas. It was born with the
idea to provide a grocery store featuring good, wholesome food; not a \"health food\" store filled
with pills and potions. Sales doubled each year for the first four years.
Opportunities.
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what are the disadvantages of joint ventures
what are the disadvantages of joint ventures
what are the disadvantages of joint ventures
Solution
A joint venture (JV) is a business arrangement by which, two or more entities make an
arrangement by which they share assets, expertise & technology to execute a particular business
venture. The parties to a JV share the liabilities and profits together.
A JV can be a short-term arrangement, made to cater to a specific project only.
However, there may be some disadvantages to a JV, as follows.
1) A cross-country JV has the main issue of cultural difference. It is often difficult for partner
entities from different countries with different cultures, to operate efficiently enough as to create
positive synergy.
2) The goals and objectives of the JV partners may not agree, which may create a friction &
conflict of interest going ahead.
3) Efficient sharing of responsibilities is a pivotal aspect in a JV, in absence of which, the
arrangement may collapse.
4) A JV works best in presence of perfect communication flow with no barriers, which is rarely
achieved in real life.
5) Sharing of resource may be uneven, or perceived to be sub-optimal, by one or more of the
partners.
6) A final disadvantage of a JV is the dispute resolution process. Due to shared responsibilities,
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What are the methods of conducting trade SolutionA business m.pdf
What are the methods of conducting trade ?
Solution
A business may conduct international trade using following channels and methods:
(1) Direct Trade
The company directly exposts its goods and services to other countries, and imports products &
services from other countries.
(2) Licensing.
A company (X) grants another company (Y) in another country, to produce and sell X\'s
products, a license to Y against a fee/royalty that Y should pay to X. Such licensing agreement
may cover not only goods and services, but other intangibles like technology, copyright or
patents.
(3) Management Contracts
These are contracts between two companies in different countries through which one company
provides technical expertise or management expertise to another company.
(4) Turnkey Projects
One company (X) lends its resources and expertise to another company from other country (Y),
in helping Y start and build new projects, from the basic planning & design stage, to the final
execution stage. In exchange for this, Y pays a fee to X.
(5) Joint Ventures (JV)
This involves joint collaboration between 2 companies in different countries. It includes mutual
sharing of all resources, including technical, financial and managerial expertise sharing. This
form of trade includes sharing of both risks and rewards.
(6) Wholly Owned Subsidiary
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What are the main changes in this current global marketHow do you.pdf
What are the main changes in this current global market?
How do you define a global manager?
What are the main responsibilities of a global manager?
Solution
Answer1
Economics differentiates four major market structures: perfect competition, monopoly,oligopoly
and monopolistic competition. If we evaluate the changeswhich occurred in the last part of the
twentieth century, we can clearly see a drasticmetamorphosis in the globalised markets: two of
the above mentioned market structuresare losing ground while one of them is definitely coming
into the forefront. First let ushave a look at the losers!
- Perfect competition is in the process of fading out. The decrease of its importance can be traced
back to two reasons: firstly sectors traditionally characterized by perfectcompetition are losing
their share in the economy; secondly companies operating inthese industries to gain competitive
advantage are trying to differentiate their offerings,even if they seemed to be rather homogenous
in the past, from those of their competitors. If the majority of them succeed the competition is
gradually transforminginto a form of imperfect competition. It is worthwhile to mention that it
was Levitt whofirst drew attention to the importance of differentiation.
- The share and importance of monopolies is also decreasing. In democratic societiesthere is a
great pressure on government regulation to abolish monopolies, to deregulate,and liberalise these
industries. The banking system, most of the mass transportation, and basic utilities have already
been deregulated, and monopolies still functioning are setunder strong societal control
Parallel with the decreasing importance of perfect competition and monopolies, the twoother
forms of market structures are gaining ground, especially and most importantly:oligopoly. The
study would like to prove that the world is moving towards the dominance of a market structure
which could be called.
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What are the main causes of and contributing factors to international financial crises? How can
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Crisis of 1997.
Solution
Causes of Asian financial crisis-. Firstly, huge amounts of foreign capital became readily
available at relatively low interest rates, as investors in search of fresh opportunities shifted huge
amounts of capital into Asia. As under all boom cycles, stock and real estate prices in Asia
increased initially, thus attracting further funds. But, domestic allocation of borrowed foreign
capital was inefficient due to weak banking systems, inefficient corporate governance, and
inadequate transparency of financial sector. Insufficient absorptive capacity also added to the
inefficient allocation of foreign capital. Secondly, the economies\' exchange rate regime was
fixed hence giving borrowers an illusionary sense of security, encouraging them to go for dollar-
denominated borrowings.
The huge capital inflows plus weakening exports were reflected in increasing current account
deficits. Also, a substantial part of the capital inflows was in the form of short-term borrowing,
making these economies prey to external shocks.
Once the trigger started in Thailand , other markets overreacted and the crisis spread.
Remedies.
What are the main characteristics of a research study that uses inde.pdf
What are the main characteristics of a research study that uses independent measures?
Solution
An independent measures study requires a separate sample for each of the
treatments or populations being compared. An independent measures t statistic is appropriate
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