Federal Reserve Bank

Paper Summary:

This paper explains that a properly functioning, effective banking system is necessary for the successful functioning of a capitalist economy. The paper introduces the Federal Reserve Bank, the central bank of the United States, that acts as the banker to the banking community as well as the government, besides issuing the national currency, framing monetary policies and contributing significantly to the supervision and regulation of banks and bank holding companies. The paper examines the banking system as a whole, with a focus on the role played by the Federal Reserve Bank.

Outline
Introduction
Various Reporting Formats Employed by the Banks
Maintenance of Necessary Reserves
Submission of Reports

From the Paper:

"Financial services as an industry has progressed to become one of the widely transforming sectors of the global economy, having significant changes in information transference and processing, innovation in terms of commodities and processes, and rapid competition among the financial institutions -- among themselves and also among their several customers. The industry and its part in the transformations in the economy show that the supervising and regulatory structure also needs to be reevaluated periodically. The aim of bank regulation is mostly the same - to attain maximum static and dynamic efficiency levels in the midst of a politically and economically permissible framework which is stable and equal. However the profits are always associated with a cost by means of stability and equity. A more stable and equal financial system usually need sacrifices with regard to efficiency."

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