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Boundless Business
The Functions of Money and Banking
Business Textbooks Boundless Business The Functions of Money and Banking
Business Textbooks Boundless Business
Business Textbooks
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Section 5

The Federal Reserve System

Book Version 6
By Boundless
Boundless Business
Business
by Boundless
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7 concepts
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Introduction to the Federal Reserve

The Federal Reserve System is the central banking system of the United States, which conducts the nation's monetary policy.

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Banking Crises and Centralized Reserve Enforcements

One of the Federal Reserve's duties is to regulate financial institutions, such as bank-holding companies and state member banks.

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The Lender of Last Resort

The U.S. Federal Reserve as the "lender of last resort" extends credit to financial institutions unable to obtain credit elsewhere.

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The Fed as a Check Clearer

The Fed created a nationwide check-clearing system that provided an efficient and stable way of transferring funds between institutions.

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The Reserve Requirement

The Federal Reserve is in charge of setting reserve requirements for all depository institutions in the country.

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The Discount Rate

The Fed makes loans to depository institutions and charges different discount rates for each of discount windows.

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Open Market Operations

Open market operations (OMO) refer to a central bank's selling or buying of government bonds on the open market.

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