Federal Reserve System

The central bank that sets credit and monetary policy by fixing the reserves to be maintained by depository institutions, determining the discount rate charged by Federal Reserve Banks, and regulating the amount of credit that may be extended on any security. • The Federal Reserve System was established by the Federal Reserve Act of 1913. […]

Federal Reserve System. The central bank that sets credit and monetary policy by fixing the reserves to be maintained by depository institutions, determining the discount rate charged by Federal Reserve Banks, and regulating the amount of credit that may be extended on any security. • The Federal Reserve System was established by the Federal Reserve