ECONOMICS
FINANCIAL MARKETS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Federal Reserve Bank
|
|
|
Central Bank
|
|
|
Member Banks
|
|
|
National Bank
|
Detailed explanation-1: -The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
Detailed explanation-2: -Each of the 12 Federal Reserve Banks serves its geographic district in various ways, including, but not limited to, distributing paper currency and coins, processing automated electronic payments and monitoring commercial banks to ensure compliance with regulations and banking practices.
Detailed explanation-3: -The Board of Governors, an agency of the federal government that reports to and is directly accountable to Congress, provides general guidance for the System and oversees the 12 Reserve Banks.
Detailed explanation-4: -The Federal Reserve System consists of twelve districts each responsible for a geographic area of the country. The Federal Reserve officially identifies its Districts by number and city in which its head office is located.