Board of the Governors of the Federal Reserve System

The Federal Reserve System, the central bank of the United States, conducts the nation’s monetary policy, supervises and regulates banks, and provides a variety of financial services to the U.S. Government and to the nation’s banks. The Board of Governors […]

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Federal Open Market Committee

The group that makes monetary policy for the Federal Reserve System is the Federal Open Market Committee (FOMC). In addition to formulating monetary policy, the FOMC decides whether

How the Federal Reserve is Audited

Periodic Reviews and Examinations All Federal Reserve Banks and branches, like commercial depository institutions, are audited and examined regularly. All Federal Reserve Banks and branches are audited

The Role of Reserve Bank Directors

The Federal Reserve Act of 1913 requires each of the 12 Reserve Banks to be "conducted under the supervision and control of a board of directors." Under the

Overview of the Federal Reserve System (Background)

The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible,

Currency Devaluation and Revaluation

At the Bretton Woods Conference in July 1944, international leaders sought to insure a stable post-war international economic environment by creating a fixed exchange rate system. The United

Exchange Stabilization Fund

The Exchange Stabilization Fund (ESF) of the United States Treasury was created and originally financed by the Gold Reserve Act of 1934 to contribute to exchange rate stability

U.S. Foreign Exchange Intervention

The Department of the Treasury and the Federal Reserve, which are the U.S. monetary authorities, occasionally intervene in the foreign exchange (FX) market to counter disorderly market conditions.

Balance of Payments

The balance of payments (BOP) is an accounting of a country’s international transactions over a certain time period, typically a calendar quarter or year. It shows the sum

Bank for International Settlements

Established in 1930 in Basel, Switzerland, the Bank for International Settlements (BIS) is a bank for central banks. It takes deposits from, and provides a wide range of