Federal Reserve Board


 

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Federal Reserve Board

In the US, a board of Directors comprised of seven members which directs the federal banking system, appointed by the President of the United States and confirmed by the Senate. The functions of the board include formulating and executing monetary policy, overseeing the Federal Reserve Banks, and regulating and supervising member banks. Monetary policy is implemented through the purchase or sale of securities, and by raising or lowering the discount rate - the interest rate at which banks borrow from the Federal Reserve.



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Federal deficit (surplus)

Federal deficit (surplus)

When federal government expenditures are exceeded by federal government revenue.


US Federal Reserve

US Federal Reserve

See: 'Federal Reserve'.


Federal Financing Bank

Federal Financing Bank

A federal institution that lends to a wide array of federal credit agencies funds it obtains by borrowing from the US Treasury.


Federal Insurance Contributions Act

Federal Insurance Contributions Act

In the US, the federal law which directs employers to withhold a proportion of employees' salaries for payment to the government in order to provide future pension and other social security benefits.


Federal Reserve Act of 1913

Federal Reserve Act of 1913

Federal legislation that established the Federal Reserve System.


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