Womack Report

October 16, 2007

Banking and Finance, October 16

Filed under: Economics,Notes,School — Phillip Womack @ 1:41 pm

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:

  1. Provide cash to banks.
  2. Clear checks
  3. Change the money supply (M)

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Powered by WordPress