Sleepy today. Need to check over this material later.The Federal Reserve Bank of Dallas is the primary FRB in the Texas zone. The Houston branch
is the backup for Dallas; theoretically, Houston could take over if something happened to
the Dallas branch.
Functions of banks, the Fed, and the U.S. Treasury.
Only the Treasury is a government agency. Treasury prints money.
Each federal reserve bank is run by a Board of Directors, headed up by a President.
Functions of the Fed:
- Provide cash to banks.
- Clear checks
- Change the money supply (M)