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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 947 |
Essay's paper body
In 1976, the Consumer Advisory Council was created; consisting of both consumer and creditor representatives, it advises the Board of Governors on consumer-related matters.
Function
The most important duties of the Federal Reserve authorities relate primarily to the maintenance of monetary and credit conditions favorable to sound business activity in all fields?agricultural, industrial, and commercial...
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Among those duties are lending to member banks, open-market operations, fixing reserve requirements, establishing discount rates, and issuing regulations concerning those and other functions. In a sense, each Federal Reserve bank is best understood as a bankers' bank. Member banks use their reserve accounts with the reserve banks in much the same way that a bank depositor uses his checking account...
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