美联储 商业银行与货币供应(英文版).pptVIP

The Federal Reserve, Commercial Banking, and the Supply of Money Current US Coins The Federal Reserve The Federal Reserve System was created in 1913 by Woodrow Wilson. Regulate the banking industry “Lender of Last Resort” Regulate the money supply Provide banking services for the federal government Check Clearing Standard Definitions of Money Monetary Base (M0): Direct liabilities of the central bank Currency in circulation + Bank Reserves M1: Currency in circulation + Travelers Checks + Checking accounts M2: M1 + Savings accounts + Money Market Accounts + Small Time Deposits M3: M2 + Large