Search results for: “federal reserve”
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Member Bank
A bank that holds membership in the Federal Reserve system. Membership is mandatory for banks with Federal charters. State- chartered banks may join if qualified. Member banks are obliged to subscribe a fixed portion of their capital and surplus to stock of their regional banks, must maintain prescr…
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London Gold Pool
An arrangement among certain European central banks and the Federal Reserve Bank of New York designed to maintain stability in the market price of gold in private transactions. The United States had been committed to buy and sell gold in official transactions at thirty-five dollars per ounce; a priv…
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Gold Wire
The telegraphic transfer of gold among Federal Reserve banks to clear interbank balances. The gold is physically on deposit with the treasurer of the United States….
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Gold Certificates
Paper currency issued by the U.S. Treasury denominated in dollars and freely convertible by the bearer into gold at the fixed rate. When the United States went off the gold standard in 1933, gold certificates were removed from circulation, except for use by Federal Reserve banks….
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Eligible Paper
Drafts, bills of exchange, and other instruments that satisfy requirements for discount or re-discount at the counters of a Federal Reserve bank. In addition to being eligible, i.e., arising from an approved transaction, the paper must be acceptable, i.e., drawn, accepted, or endorsed by a credit-wo…
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Edge Act Corporation
A federally chartered bank formed under authority of the Edge Act of 1919 (Section 25 A of the Federal Reserve Act) exclusively for the purpose of engaging in international transactions. The Edge Act permits a commercial bank, through the formation of a subsidiary under Section 25 (A), to overcome t…
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Discount Window
The counter at a Federal Reserve bank or branch at which a member bank may present eligible instruments, such as banker's acceptances, for discount or re-discount; the acceptance of such instruments by the Federal Reserve increases lending power of the commercial bank that has offered the instru…
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Debt Monetization
The expansion of the national money supply through the issuance of public debt instruments. In the United States debt is monetized whenever the treasury issues bonds or bills; these instruments are purchased by the Federal Reserve system with a check. The check, once deposited, constitutes reserves …
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Agricultural Paper
Bills of exchange, drafts, and like instruments that arise from transactions in agricultural commodities. Agricultural paper with maturities of nine months or less may be discounted at regional Federal Reserve banks, subject to eligibility requirements contained in Federal Reserve Regulation A. See …
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Acceptability
As used in relation to the discount or re-discount of a negotiable instrument at the Federal Reserve, acceptability implies that the Bank regards the paper as sound and apt to be collectible upon maturity. Where the Bank has doubts concerning the maker, payee, or endorsers of an instrument, financia…
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Information Technology
Literature Review on Information Technology: State Government Use and Management In the Encyclopedia of Public Administration and Public Policy, [1] Paul M. Chalekian offers the following summary about the topic of Information Technology: State Government Use and Management: The effective […]
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Information Technology
Literature Review on Information Technology: State Government Use and Management In the Encyclopedia of Public Administration and Public Policy, [1] Paul M. Chalekian offers the following summary about the topic of Information Technology: State Government Use and Management: The effective […]
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Bank For International Settlements
Bank For International Settlements Summary of Bank For International Settlements An international bank owned and controlled by the central banks of twenty-four European and five non-European central banks. The BIS was formed at the Hague Conference of 1930 in response to pressures for the […]