The Federal Reserve System

National

All ___ banks have to be a part of the Federal Reserve System.

Five

Between 1930 and 1933 over ___ thousand banks failed.

Federal Reserve

By 1913 the ____ _____ System was established

President

Each member of the Board of Governors was picked by the ___ and approved by the Senate

Bank

Each of the twelve districts contains a Federal Reserve ___.

Deposit ($250,000)

FDIC stands for Federal ___ Insurance Corporation

Central

The Fed is based on the theory of a ___ bank, which is responsible for all the banks withing the United States

government

The Fed is considered not a part of the federal ___.

Federal

The Fed is not a part of the ___ government, though Congress has has these power to change it.

Adise

The Federal Advisory Committee's main role is to ____ the Board of Governors

Twelve

The Federal Reserve System divided the United States into ___ districts

Funding

The Federal Reserve System does not relay on Congress or the President for ___, making it truly an independent body.

Act

The Federal Reserve ___ passed by Congress created the Federal Reserve System.

*Fed* (Today is also refereed to as the Central Bank)

The Federal Reserve system is also called the ________.

Requirements

The are three main ways the Federal Reserve System regulates the money supply: 1) open market operations 2) discount rate 3) reserve ___.

*Governors*

The main body of the Fed is the Board of _____________.

*Control*

The main function of the Federal Reserve System is to _______ the nation's money supply

Percentage

The main instrument to regulate the money supply is the reserve requirement, meaning each bank must keep a certain ___ of their funds on hand.

Different

The seven member board must come from ___ districts.

Seven

There are ___ on a board.

*Advisory*

Under the Board of Governors are the Federal ______ Committee and the Federal Open Market Committee.

State

Until the 1860s, most banks revived their charters for the ___ government.

Dangerous

Up until the early 1990s banking was considered by many as ___

Recognized

With the Great Depression of the 1930s, the Fed was ___ into a true Central Bank

Abolish

Congress has the power to change or even ___ the Federal Reserve System

Holiday

In 1933, FDR created a "bank ___" in which all banks were closed for a short period of time.

Discount

Members banks of the Federal Reserve System can borrow money from the Fed. The interest rate given by the Federal Reserve

*Independently*

One reason why the "Fed" failed in the early part of the Great Depression was that each district acted ____ of one another.

Securities

Open market operation means the Fed's ability to buy a sell government ___.

fourteen

The Board members serve a term of ___ years in order to be fee from political pressures of Congress and the President

One

The FDIC guarantees deposits up to _____ hundred thousand dollars. (now it is $250,000)

Regulating

in 1865, Congress created national banks which gave the federal government a bigger role in _____ the money supply.