FinancialMarketsChap5

FinancialMarketsChap5 - Financial Markets Chapter 5 Outline...

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Financial Markets Chapter 5 Outline Terms: 1. Board of Governors of the Federal Reserve, 66- seven member board that manages the Fed. Each member is appointed by the President and approved by Congress. 14 year appointments, one expires each year. One of them is the Board’s chairman. 2. Federal Open Market Committee (FOMC), 67- the unit of the Fed that decides on the general issues of changing the rate of growth of the money supply, by open market operations. Consists of the Board, the Pres. Of the NY branch, and other presidents. Meets 8 times a year. 3. Federal Reserve Board Chairman, 66- The person appointed to chair the Fed’s Board of Governors. Highly influential, etc. 4. Federal Reserve District Bank , 66- The Federal Reserve Bank in one of the 12 districts. 5. Fractional Reserve Banking System, 66- One in which a bank must hold or reserve some portion of its deposits in a form approved by the central bank, such as the Fed in the US. 6. G-5 countries, 75- (Isn’t it like G8 now?) The five most developed economies and financial systems in the world – the US, Japan, GB, Fr, Germany. 7. International Reserves, 75- The amount of currency from large industrial countries that is held by a country’s central bank and government. 8. L, 70- an inclusive measure of money and certain liquid assets. 9.
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FinancialMarketsChap5 - Financial Markets Chapter 5 Outline...

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