#1
| |||
| |||
What Is The Difference Between Central Bank And Federal Reserve |
#3
| |||
| |||
Re: what is the difference between central bank and federal reserve
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The Federal Reserve Bank is the central bank of the United States and arguably the most powerful financial institution in the world. The Federal Reserve Bank was founded by the U.S. Congress in 1913 to provide the nation with a safe, flexible, and stable monetary and financial system. The Federal Open Market Committee are divided as follows: Federal Reserve Bank of Boston Federal Reserve Bank of New York Federal Reserve Bank of Philadelphia Federal Reserve Bank of Cleveland Federal Reserve Bank of Richmond Federal Reserve Bank of Atlanta Federal Reserve Bank of Chicago Federal Reserve Bank of St. Louis Federal Reserve Bank of Minneapolis Federal Reserve Bank of Kansas City Federal Reserve Bank of Dallas Federal Reserve Bank of San Francisco Federal bank Assets: Federal Reserve Bank Total assets in billions USD New York City $2,428 San Francisco $583 Richmond $261 Atlanta $265 Chicago $233 Dallas $187 Cleveland $129 Philadelphia $114 Boston $85 Kansas City $72 St. Louis $60 Minneapolis $38 All banks $4,453 |
|