ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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11
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12
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13
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10
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Detailed explanation-1: -The Board of Governors revised the branch boundaries of the System in February 1996. As originally envisioned, each of the 12 Reserve Banks was intended to operate independently from the other Reserve Banks.
Detailed explanation-2: -Federal Reserve Banks The 12 districts are headquartered in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
Detailed explanation-3: -Policies set at the FOMC are carried out by the 12 Federal Reserve Banks. Each Reserve Bank has a board of governors to oversee its management and activities. These directors offer their private-sector perspectives, local business experience, community involvement and leadership to the Bank they serve.
Detailed explanation-4: -Reserve Banks hold cash reserves and make loans to depository institutions, circulate currency, and provide payment services to thousands of banks.
Detailed explanation-5: -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.