discount rate [central Bank]: Rate at which a central Bank (Federal Reserve System in the U.S.) (re)discounts certain Bills for financial institutions.
Federal Reserve System [Fed] [United States]
Labor, agriculture, the small firm, the large corporation, the Federal Reserve System and the government have all interacted to produce a variegated economic system.
The United States Congress established the Federal Reserve System in 1913 when it approved the Federal Reserve Act.
The Federal Reserve System has added $10, 000of securities to its assets, which it has paid for, in effect, by creating a liability on itself in the form of bank reservebalances.
One thing that's been a trend around the world is that the I mentioned that the U.S. Federal Reserve System was different from other central Banks in that it was designed to have independence.
The Federal Reserve System includes 12 regional Federal Reserve Banks and 25 Federal Reserve Bank branches.
Obviously the era of free banking had dragged too long before the Federal Reserve System came forth in 1913.
Money in the United States consists of coins and paper currency. According to federal law, only the U.S. Treasury and the Federal Reserve System can issue U.S. currency.
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