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.