Fed

Fed
Fed /'fed/ n: the Board of Governors of the Federal Reserve System see also federal reserve system in the important agencies section

Merriam-Webster’s Dictionary of Law. . 1996.

Fed
USA
The central bank of the US. The Fed was established under the Federal Reserve Act of 1913 and consists of:
• 12 regional Federal Reserve Banks of which the Federal Reserve Bank of New York (FRBNY) is the most prominent.
• The Federal Open Market Committee (FOMC). This committee, composed of 12 members, oversees open market operations (the setting of monetary policy by controlling the money supply through the sale and purchase of securities and other financial instruments).
• The Member Banks. National banks must join the Fed. State chartered banks have the option of becoming members of the Fed if they meet the admission standards established by the FRB. Member banks own stock in the Federal Reserve Bank in their region and receive dividends but do not have any control over its activities, policies or hold a financial interest in these banks. This stock may not be sold or pledged as collateral.
The Fed is an independent institution of the government and its decisions do not have to be ratified by the President. These decision are, however, subject to Congressional oversight and must work within the government's economic and financial policy objectives.
The Federal Reserve System has four general duties:
• Conducting the nation's monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.
• Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers.
• Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets.
• Providing certain financial services to the US government, public, financial institutions and foreign official institutions, including playing a major role in operating the nation's payments systems.
The Fed does not rely on funding from the government. Its income is derived primarily from:
• Interest on US government securities it has acquired through its open market operations.
• Interest on foreign currency investment.
• Interest on loans to depository institutions.
• Fees received for services rendered to depository institutions such as check clearing, funds transfers and automated clearinghouse operations.
The Fed remits to the US Department of the Treasury all income earned after paying its expenses.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • fed\ up — • fed up • fed to the teeth • (slang) fed to the gills adj. phr. (informal) Having had too much of something; at the end of your patience; disgusted; bored; tired. People get fed up with anyone who brags all the time. I ve had enough of his… …   Словарь американских идиом

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  • fed up — adj informal annoyed or bored, and wanting something to change ▪ She felt tired and a bit fed up. fed up with ▪ I m really fed up with this constant rain. ▪ Anna got fed up with waiting …   Dictionary of contemporary English

  • fed up — adjective not usually before noun INFORMAL * annoyed or bored with something that you feel you have accepted for too long: fed up with: I m fed up with this job. be/get fed up (with) doing something: She d got fed up with waiting and went home …   Usage of the words and phrases in modern English

  • fed — ☆ fed fed1 [fed] vt., vi. pt. & pp. of FEED fed up Informal having had enough to become disgusted, bored, or annoyed fed2 [fed] n. [often F ] a U.S. federal agent or officer a U.S. federal agent or officer ☆ the Fed the Federal Reserve System …   English World dictionary

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  • Fed — /fed/ noun US same as Federal Reserve Board (informal) ▪▪▪ ‘…indications of weakness in the US economy were contained in figures from the Fed on industrial production for April’ [Financial Times] ▪▪▪ ‘…the half point discount rate move gives the… …   Dictionary of banking and finance

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