Federal Reserve System

American  

noun

1. a U.S. federal banking system that is under the control of a central board of governors Federal Reserve Board with a central bank Federal Reserve Bank in each of 12 districts and that has wide powers in controlling credit and the flow of money as well as in performing other functions, as regulating and supervising its member banks.

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Federal Reserve System British  

noun

1. (in the US) a banking system consisting of twelve Federal Reserve Districts , each containing member banks regulated and served by a Federal Reserve Bank . It operates under the supervision of the Federal Reserve Board and performs functions similar to those of the Bank of England

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Federal Reserve System Cultural  

1. The central monetary authority of the United States. The Board of Governors supervises the twelve Federal Reserve banks, which deal with other banks rather than with the public. The system has many functions, including regulating interest rates.

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Example Sentences

Ultimately, the Common Market's most far-reaching reform may lie in its plan for a monetary union, starting in mid-1963, that will accelerate its progress toward a U.S.-style federal reserve system.

From Time Magazine Archive

In this particular also the state banks have the advantage over the banks in the federal reserve system which are allowed to establish branches only in foreign countries.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

The London Statist has calculated the ultimate increased lending power of American banks, under the federal reserve system, at $3,000,000,000.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

The adoption of the federal reserve system has made a remarkable improvement in the handling of gold and of credit.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur

A state banking code with close co-operation with the federal reserve system, bringing all private banks under state supervision.

From The Progressive Democracy of James M. Cox by Morris, Charles E.