New York, Oklahoma and Seattle) is to provide a stable financial environment and isolation of banks facing difficulties in order to prevent possible under these circumstances, a crisis of confidence. last area of ​​responsibility of the Federal Reserve Banks is to provide a happy financial services. These include the processing of checks, issuance and receipt of cash, sale and storage of securities the US federal government, wire transfers of funds. Federal Reserve banks can be classified as some "semi." Corporations, mainly due to the mechanism of elections and appointments of directors. Each Federal Reserve Bank is a corporation having a charter for the right to introduce the operations issued by public authorities, and, of course, includes the shareholders, board members and president. Stockholders of the Federal Reserve Bank are member banks of the Fed's district, but they choose only six of the nine directors of the Federal Reserve Bank: three directors of the first rank (class A), representing the usual bankers of creditors, and three directors of the second rank (class B), representing leading representatives of industrial or agricultural companies, are actively used in the practice of loan funds. Board of Governors of the Federal Reserve further appoint three directors of the third rank (class C) in each Federal Reserve Bank. See Table 1 p. 30to the original plan for the organization of the Fed thought it necessary to represent in his person the authorities and the general public. In addition, the Director of the third rank may not hold in the bank to any other post. Board of Governors of the Federal Reserve chooses and appoints the chairman and his deputy from among the directors of the third rank. of profit to any Federal Reserve Bank as a result of activity also reflects the previously noted by the nature of its structure. Each bank - member of the Fed - is obliged to purchase from the Federal Reserve Bank of its district a certain number of shares for an amount of 3% of its own equity and retained earnings, lawfully this amount on demand can be doubled. With the increase of share capital and profits of commercial banks, he is obliged to purchase more shares to maintain a regulated three-percent level. Dividends paid on these shares, limited to 6%, and more than 90% of the total income of the Federal Reserve Banks returned to the US Treasury. The main purpose of the Federal Reserve Banks is not extracting the maximum profit, but an embodiment of life and economic reality of a certain US monetary policy and guide multi-faceted economic and financial activities of the Federal Reserve System. of the twelve Federal Reserve Banks is a weekly financial report on the results of its activities to the Board of Governors of the Federal Reserve, which summarizes and processes incoming information, and then publish at the end of each week. Federal Reserve Banks is located in Washington and designed to adjust and meet the ...
