ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6
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10
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12
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None of the above
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Detailed explanation-1: -The 12 Federal Reserve Banks and their 24 Branches are the operating arms of the Federal Reserve System .
Detailed explanation-2: -Twelve Federal Reserve Districts operate independently but with supervision. Federal Reserve District boundaries are based on economic considerations; the Districts operate independently but under the supervision of the Federal Reserve Board of Governors.
Detailed explanation-3: -The New York Federal Reserve district is the largest by asset value. San Francisco, followed by Kansas City and Minneapolis, represent the largest geographical districts.
Detailed explanation-4: -The quick answer to your first question is that the Districts were designed to provide central banking services on a regional basis through Reserve Banks headquartered in key financial centers. Even when they were set up in 1913, the Districts varied widely in the population and geographic areas they served.