U.S. banking system

It can not be revoked at the whim of the president, Congress also can not change its role and functions only as a special legislative act. Long terms of office of members of the Board provide an opportunity to protect and insulate them from political pressure. Another important feature of the U.S. banking system - are twelve Federal Reserve Banks (see Figure 5). These banks are: "central bank"; kvaziobschestvennymi banks, banks, banks. Thus, in the U.S. - 12 "central banks". This reflects the geographical extent, economic diversity and the large number of commercial banks in the country. After the central bank main directives of the Council of the Federal Reserve. The most important of them - the Federal Reserve Bank of New York City. 12 Federal Reserve Banks have kvaziobschestvennymi. They reflect the symbiosis of private ownership and public control. Their owners - commercial banks of the respective district. For admission to the Federal Reserve, commercial banks are obliged to purchase shares in the share capital of the Federal Reserve Bank in their area. The policy pursued by the Federal Reserve Banks, established public body - the Board of Governors Federal Reserve System. The central banks of the American capitalist economy are privately owned but managed by the state. They are not guided by the desire for profits, as a policy, which in terms of Boards of Governors of the Federal Reserve enhances the state of the economy as a whole. Federal Reserve Banks to depository institutions doing the same thing, that depository institutions are doing to people. They take deposits from banks and savings institutions and provide them with loans. Thus, the Federal Reserve Banks are "bank of banks". Topic: Banking systems | Tags: characteristics of the banking system