美联储 商业银行与货币供应(英文版)教案资料.pptVIP

美联储 商业银行与货币供应(英文版);Remember the story of Goldilocks and the three bears?;Baby bear’s bed and the supply of money…;The Constitution grants the federal government the power to coin Money, regulate the Value thereof...” ;The US began minting US coins shortly after the constitution was ratified;One Dollar (Silver);Current US Coins;Paper money was initially issued by commercial banks as claims to their deposits of gold and silver (coins or bars);Assets;Assets;National notes were convertible to T-Bills at any national bank National Bank notes were issued until 1934 ;The Federal Reserve could issue new currency by purchasing US Debt either in private markets or directly from the Treasury Federal Reserve notes were convertible to gold until 1934 (individuals) 1971 (Central Banks) ;Denominations of $500, $1,000, $5,000, and $10,000 were no longer printed after 1946 for fear of German counterfeiting;The Largest denomination ever printed was a $100,000 gold certificate. It was never circulated, but was used for inter-bank transfers;Credit Channels under the National/State Banking System;Credit Channels under the National/State Banking System;The Federal Reserve;Credit Channels under the Federal Reserve System;The Federal Reserve System Divides the country into 12 Districts numbered 1 - 12 from east to west;The Federal Reserve board is headquartered in Washington DC. The Board Consists of 7 “Governors” appointed by the President and confirmed by the Senate for 14 Year Non-Renewable terms;Each district has a Federal Reserve Bank with a bank president elected by the bank’s board of directors for 4 year renewable terms;The Federal Open Market Committee (FOMC) is the policymaking group of the Federal Reserve System. They meet approximately 8 times per year. Policies are determined by majority vote;Money can be anything that satisfies: Store of Value Unit of account Medium of exchange Lots of things satisfy these properties;Standard Definitions of Money;Once those reserves ente