国际金融市场与机构.docx

【美联储的主要构成成份】 Ide ntify the key comp onents of the Fed that dictate mon etary policy Federal reserve district ban ks.联邦储备区银行 Member banks会员银行 Board of governors 董事会 Federal open market committee(FOMC)联邦公开市场委员会 Advisory committees联邦顾问委员会 【联邦储备银行的职能】 Fed district banks facilicate operati ons with in the banking system by cleari ng checks,replaci ng old curre ncy, and provid ing loa ns to depository in stitutio ns in n eed of fun ds. They also collect econo mic data and con duct research projects on commercial banking and econo mic tren ds. ★【货币政策工具】 Mon etary policy tools Open market operations 公开市场操作 Adjustments in the discount rate 调整贴现利率 Adjustments in the reserve requirement ratio 调整法定存款准备金利率 【The new York district bank is considered the most important.纽约联邦储备区银行被认为是最重要的。 】 【Each Fed district bank has nine directors ,six are elected by member banks, of these six directors, three are professional banks and three are bus in essma n ， the other three directors are appo in ted by the board of gover nors. 每个联邦储备区银 行，有九个成员组成，六个是来自会员银行选举出来， 其中三人来自专业银行， 三人为商人，另外三人来自理事会。】 【理事会】Board of governors The board of gover nors is made up of seve n in dividual members with offices in Wash ington D.C 理事会的 7 个人是由华盛 顿官方组成。 【理事会的职能】 regulati ng commercial banks and con troll ing mon etary policy. 【联邦公开市场委员会】 FOMC is made up of the seve n members of the board of gover nors plus the preside nts of five fed district ban ks. 【FOMC 主要职能】 promote high employment, economic growth and price stability. 【公开市场如何操作如何影响禾 U率】 the Fed can have a strong in flue nee on these rates by con trolli ng the supply of loan able fun ds.whe n the fed uses ope n market operati ons to in crease bank funds ,ba nks have more funds that can be loaned out. This can in flue nee various market-determ ined in terest rates. he federal funds rate may decli ne because some banks have a larger supply of excess funds to lend out in the federal funds market.2.ba nks with excess funds may offer new loa ns at a lower in erest rat