tailieunhanh - Central banks: A global perspective
Invite you to consult the lecture content "Central banks: A global perspective" below. Contents of lectures introduce to you the content: Structure of the federal reserve system how independent is the fed, explaining central bank behavior, structure and independence of the european central bank, central banks in other countries. Hopefully document content to meet the needs of learning, work of the federal reserve system. | Central Banks: A Global Perspective Contents Origins of the Federal Reserve System Structure of the Federal Reserve System How Independent is the Fed? Explaining Central Bank Behavior Structure and Independence of the European Central Bank Central Banks in other Countries Origins of the Federal Reserve System Resistance to establishment of a central bank Fear of centralized power Distrust of moneyed interests No lender of last resort Nationwide bank panics on a regular basis Panic of 1907 so severe that the public was convinced a central bank was needed Federal Reserve Act of 1913 Elaborate system of checks and balances Decentralized Structure of the Federal Reserve System The writers of the Federal Reserve Act wanted to diffuse power along regional lines, between the private sector and the government, and among bankers, business people, and the public This initial diffusion of power has resulted in the evolution of the Federal Reserve System to include the following . | Central Banks: A Global Perspective Contents Origins of the Federal Reserve System Structure of the Federal Reserve System How Independent is the Fed? Explaining Central Bank Behavior Structure and Independence of the European Central Bank Central Banks in other Countries Origins of the Federal Reserve System Resistance to establishment of a central bank Fear of centralized power Distrust of moneyed interests No lender of last resort Nationwide bank panics on a regular basis Panic of 1907 so severe that the public was convinced a central bank was needed Federal Reserve Act of 1913 Elaborate system of checks and balances Decentralized Structure of the Federal Reserve System The writers of the Federal Reserve Act wanted to diffuse power along regional lines, between the private sector and the government, and among bankers, business people, and the public This initial diffusion of power has resulted in the evolution of the Federal Reserve System to include the following entities: The Federal Reserve banks, the Board of Governors of the Federal Reserve System, the Federal Open Market Committee (FOMC), the Federal Advisory Council, and around 2,900 member commercial banks. Figure 1 Federal Reserve System Source: Federal Reserve Bulletin. Federal Reserve Banks Quasi-public institution owned by private commercial banks in the district that are members of the Fed system Member banks elect six directors for each district; three more are appointed by the Board of Governors Three A directors are professional bankers Three B directors are prominent leaders from industry, labor, agriculture, or consumer sector Three C directors appointed by the Board of Governors are not allowed to be officers, employees, or stockholders of banks Federal Reserve Banks (cont’d) Member banks elect six directors for each district; three more are appointed by the Board of Governors (cont’d) Designed to reflect all constituencies of the public Nine directors appoint the .
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