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The Federal Reserve System
The Federal Reserve System is the central banking system of the United States. ... In the United States these functions are the responsibilities of officials of the Federal Reserve System, which is made up of a Board of Governors, located in Washington, D. ... , and 12 district Federal Reserve banks, located all over the nation. ...
The Federal Reserves basic powers rest mainly in the Board of Governors, which is dominant in many policy issues involving bank regulation and supervision and in most aspects of monetary control. ... Most of the everyday implementation of policy decision is left to the district Federal Reserve banks, in this case, however, Ownership does not mean control. The Board of Governors and the heads of the Reserve banks adjust their policies to the public interest, rather than to the advantage of the private banking system.
The United States banking systems regulatory system is very intricate. The Federal Reserve shares authority in some cases, for example, in approving bank mergers or in examining banks, with other federal agencies such as the FDIC.
Approximate Word count = 785
Approximate Pages = 3.1
(250 words per page double spaced)
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