Chapter 15 - stress, manage payments system, and oversee...

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Chapter 15 Central Banks in the World Today The Fed began operating in 1914 Has a monopoly on the issuance of currency Most central banks control the availability of money and credit in a country’s economy by adjusting short-term interest rates As the banker’s bank: provide loans during times of financial
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Unformatted text preview: stress, manage payments system, and oversee commercial banks and the financial system • The fed acts only as the Treasury’s bank, providing a place for money paid to the government to be deposited, making good on the government’s checks, and helping to borrow funds when they are needed •...
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This note was uploaded on 05/10/2010 for the course ECO 3223 taught by Professor Staff during the Spring '08 term at University of Central Florida.

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