chapter 16 money and banking
The Board of Governors of the Federal Reserve System consists of _____ members appointed by the president and confirmed by the U.S. Senate.
7
Match the substructure of the European Central Bank with its rough equivalent in the U,S. Instructions Executive Board of the ECB
Board of Governors of the FedMethods the FOMC uses to increase its transparency do not include
Governing Council of the ECBChoice, Board of Governors of the Fed Board of Governors of the Fed
FOMC
National Central Banks in the ECB
Federal Reserve Banks in the Fed
Which of the following is a criterion for judging a central bank's independence?
Irreversible decisions
Which of the following are objectives for the Federal Reserve as set out by Congress?
Maximum employment Moderate long-term interest rates Stable prices
In which of the following ways does the FOMC increase its transparency?
Publishing the Beige Book Giving public speeches Releasing minutes of meetings after a lag
Evaluate the following statements about the accountability and transparency in the European Central Bank versus the Federal Reserve System. Which of the following are NOT true?
The ECB issues minutes more quickly. There is evidence that the ECB's communication policies are working poorly. All public ECB materials are available only in English.
Which of the following is not part of the Federal Reserve System of the United States?
The Office of the Comptroller of the Currency
Which of the following is not part of the Federal Reserve System of the United States? Multiple choice question. The Board of Governors The Federal Open Market Committee Twelve regional banks The Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency
Which of the following is true about the voting members of the FOMC?
They always include the President of the New York Reserve Bank.
Which of the following are NOT true about the Federal Reserve Banks? (Check all that apply.)
They take deposits from the general public. They are led only by the Board of Governors. The 2007-2009 financial crisis led some to think the Reserve Banks were too hard on financial intermediaries.
Today in the United States we have a dual banking system that includes both national and state banks. National banks (chartered by the federal government) ________ belong to the Federal Reserve System; state-chartered banks ___________ belong to the Federal Reserve System.
do; choose whether or not to
The discount rate is the interest rate charged on a loan
from the Federal Reserve System to a commercial bank.