0
Add your answer:
Earn +20 pts
How does the federal reserve make sure that banks are protecting depositors money?
In an efforts to protect depositors money the Federal Reserve requires that banks follow many rules in their day to day business. They require the banks keeps a certain amount of cash on hand at all times and guarantee depositors accounts up to two hundred thousand dollars per account.
What time does the Federal Reserve wire close?
The Fedwire System Closes in the US @ 6Pm EST. Most Banks will Require That You Have Your Wire Submitted Before 5:30 Though.
Has the Federal Reserve System ever been audited?
Answer - in a word, YES. The Federal Reserve has frequent internal audits performed by its Office of the Inspector General. There is also a complete audit of the financial statements of the Federal Reserve every year by a private external auditing firm, currently Deloitte. However the Government Accountability Office - the auditing office of the federal government - is legally restricted from some types of audits.Well, not exactly.... The FED itself has NEVER been audited - period.When we see the disastrous results of an artificially created shortage of currency, we can better understand why our Founding Fathers insisted on placing the power to create and control money in the hands of Congress. Article I, Section 8 of the U.S. Constitution states, "The Congress shall have power... to coin money, regulate the value thereof... "But in 1913 Congress passed the "Federal Reserve Act," relinquishing the power to create and control money to the Federal Reserve Corporation, a private company owned and controlled by bankers. The word "Federal" was used only to deceive the people. The term "central bank" was carefully avoided. The Federal Reserve Act created a Board of Directors, the Federal Reserve Board, to run the Federal Reserve Corporation with a monopoly to create and control the currency of the United States.This infamous legislation was accompanied with appropriate fanfare and propaganda that it would "remove money from politics" and "prevent boom and bust from hurting our citizens." The people were not told then, and still do not know today, that the Federal Reserve Corporation is a private monopolycontrolled by bankers, operated for the financial gain of the bankers at the expense of the people.Since that day of infamy a small group of privileged people who lend us "our money," have accrued to themselves all of the profits of printing paper currency - and more! Since 1913 they have created trillions of dollars in currency and credit, which as their own personal property, they then lend to our government and our people, with interest. "The rich get richer and the poor get poorer" had become the secret policy of our national government.The main architect of the Federal Reserve System was Paul Moritz Warburg, who came from a famous German banking family. The kingpin who steered the Federal Reserve Act through Congress was Senator Nelson Aldrich, Chairman of the Finance Committee. He was the maternal grandfather of Nelson A. Rockefeller, of Standard Oil and Chase Manhattan Bank. Aldrich's daughter, Abby Greene Aldrich, married John D. Rockefeller, Jr. in 1901. At the time, many people regarded Senator Aldrich as the Rockefeller family's mouthpiece in the Senate.The Federal Reserve Act was passed during the presidency of Woodrow Wilson. Just before he died Wilson is reported to have said that he had been deceived and "I have betrayed my country." He also said:"A great industrial nation is controlled by its system of credit. Our system of credit has been concentrated. The growth of the nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world - no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men."There has been much speculation about who owns the Federal Reserve Corporation. It has been one of the best kept secrets of the century, because the Federal Reserve Act Act of 1913 provided that the names of the owner banks be kept secret. However, R. E. McMaster publisher of the newsletter The Reaper, asked his Swiss banking contacts which banks hold the controlling stock in the Federal Reserve Corporation. The answer:Rothschild Banks of London and BerlinLazard Brothers Bank of ParisIsrael Moses Sieff Banks of ItalyWarburg Bank of Hamburg and AmsterdamLehman Brothers Bank of New YorkKuhn Loeb Bank of New YorkChase Manhattan Bank of New YorkGoldman Sachs Bank of New York.In The Secrets Of The Federal Reserve, Eustace Mullins indicates that, because the Federal Reserve Bank of New York sets interest rates and controls the daily supply and price of currency throughout the U.S., the owners of that bank are the real directors of the entire system. Mullins states:"The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914. They are the Rothschilds, Lazard Freres (Eugene Mayer), Israel Sieff, Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests."An example of the process of currency creation and its conversion into "people's debt" will aid our understanding. The Federal Government, having spent more than it has taken from its citizens in taxes, needs (for the sake of illustration) $1 billion. Since it does not have the currency, and Congress has given away its authority to create it, the government must go to the creators for the $1 billion. But the Federal Reserve, a private corporation, does not give its currency away for free! The bankers are willing to deliver $1 billion in currency or credit to the federal government in exchange for the government's agreement to pay it back with interest. So Congress authorizes the Treasury Department to print $1 billion in U.S. Bonds, which are then delivered to the Federal Reserve bankers. (The bonds are a kind of "IOU" that bears interest.)You say this is terrible! Yes it is, but this is only part of the sordid story. Under this "debt-currency" system, those U.S. Bonds referred to above have now become assets of the banks, called their "reserve." Regular commercial banks use these assets to issue loans to individual and commercial customers. Since the banking laws require only about a 12% reserve, this means the banking fraternity can lend up to eight times the amount of the bonds they have on hand. As a result of the $1 billion discussed here, they can lend $8 billion to private customers at interest. This means that together with the $1 billion lent to the government, the bankers can lend out $9 billion at interest for the original cost to them of about $400,000 for the printing! And because the Federal Reserve bankers have been granted a monopoly, the only way our people and businesses can get currency to carry on trade and expand industry and farming is to borrow it from the bankers!
What services does the federal reserve provide for the federal government?
The Federal Reserve is the basis for the American Financial System. They provide Interest Rates as well ad backing for the USAThe Federal Reserve Bank of NY provides many services to the US Government which include selling US Treasury Bills and Notes to finance the financial obligations of the Government. The Fed also performs currency trading services to help stabilize the US dollar or other countries currencies. Part of this trading involves providing foreign currencies the Government needs to meet its world wide obligations. The multitude of other services the Fed performs do not necessarily help or hinder the US Government. As example setting the overnight interest rates that banks use for short term financing. This rate has a substantial influence on the prime rate of interest US banks charge their customers. The Fed is also known as the lender of last resort. Member banks that require funds they cannot raise by normal methods may be borrowed from the Fed. These needs must be deemed as extremely vital to the US economy.The Fed also sets margin rates that impact the percentage of money a buyer of stocks must pay to make stock purchases. For example, a person wishing to buy a stock selling for $100 per share may only need to pay $50 per share to a broker and the remaining money owed is charged an interest rate. That 50% set by the Federal Reserve Bank. This margin rate is subject to change by the Fed based on its view of the markets and other economic indicators.There many other functions the Fed performs, however the above mentioned ones are deemed to be the most vital.
How much does the Federal Reserve require insurance companies to hold in reserve?
I do not believe the Federal Reserve exercises any control over insurance companies. Despite the above answer someone wrote that they do not excercise control it is possible to link them together. From this website... http://www.land.netonecom.net/tlp/ref/federal_reserve.shtml I found other charts and I found this quoted "This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation. Maurice F. Granville Chairman of The Board Texaco Incorporated - ---------------------- | | Texaco Officer & Director Interlocks ---------- Liggett & Myers, Inc. - ------------------------------------ | | | | | L Arabian American Oil Company St John d'el Ray Mining Co. Ltd. O | | N Brown Brothers Harriman & Co. National Steel Corporation D | | O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd. N | | American Express Mutual Life Insurance Co. | | N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc. M. | | Anaconda United Services Life Ins. Co. R | | O Rockefeller Foundation Fairchild Industries T | | H Owens-Corning Fiberglas Blount, Inc. S | | C National City Bank (Cleveland) William Wrigley Jr. Co H | | I Sun Life Assurance Co. National Blvd. Bank of Chicago L | | D General Reinsurance Lykes Youngstown Corporation | | General Electric (NBC) Inmount Corporation
Do banks hold ones own account in their vaults?
No. They do not keep customer's money in their vaults. Banks use the money from customers to make loans to other people, corporations, or governments. Bank regulations require banks to keep a certain percentage of total deposits in reserve. Reserves include currency in their vaults, deposits at the central bank (the Federal Reserve in the USA) and certain government bonds. These reserves are not tied to any particular customer's funds.
Is there a guideline for how much money an HOA should maintain for future needs of its members?
Generally, this guideline is available in a Reserve Study. Some states require reserve studies; some states require contributions to reserve accounts. There is no standard. If you live in a common interest community, best practices dictate that you rally for a Reserve Study to be conducted by a licensed reserve study specialist. This will give you a list of your real estate assets, the useful life of each, the remaining useful life of each and an estimate as to the cost required to replace or perform major repairs on each asset. Then, monies can be paid into reserves on a monthly basis so that when the end of the useful life is reached, an asset can be replaced or repaired using reserves.
Do foreign bank marketing in US require USA authorization?
yes definitely. They need an approval from the Federal Reserve in order to perform and provide banking services in USA.
What is the value of a 10000 dollar Federal Reserve Note?
Please post a new, separate question with the bill's date. $10000 Federal Reserve Notes were printed in the 1918, 1928, and 1934 series. All are extremely rare so it's crucial to determine whether your bill is genuine. That will require an in-person examination by a currency expert.
Will a bank take money that has been wrote on?
Yes, most banks will accept money that has writing on it (known as "unfit" currency) so long as it is still identifiable as currency. They may also require that the serial number be legible. You can also submit unfit or mutilated currency to the Federal Reserve directly (in the United States); instructions can be found on the Federal Reserve website.
How does the federal reserve make sure that banks are protecting depositors money?
In an efforts to protect depositors money the Federal Reserve requires that banks follow many rules in their day to day business. They require the banks keeps a certain amount of cash on hand at all times and guarantee depositors accounts up to two hundred thousand dollars per account.
How many banks are in The Fed?
There are twelve Federal Reserve district Banks in the Federal Reserve system, as you call it, the FED. These are identified by letter number code and run from Boston (A) to San Francisco. These banks are where the banks go to bank-and are not generally open to the public. In effect financial powerhouses- as opposed to something akin to savings and loans, or commercial banks. It should be noted there are some obscure statutes that require a certain margin of US currency to be in United States Notes- which are not, technically part of the Federal Reserve system. these have Red seals and serial numbers and are marked United States Note. Most common in $2 and $5 denomination, the red seal really stands out. These are perfectly legal tender- but it is understood they are limited to domestic transfers withing the Continental United States- hence the term Red-seal continental-.
What time does the Federal Reserve wire close?
The Fedwire System Closes in the US @ 6Pm EST. Most Banks will Require That You Have Your Wire Submitted Before 5:30 Though.
What license does a commercial collector need?
Every state does require a license to be a commercial debt collector.
Which of these was one of the chief reasons for bank failures in 1929-1930?
Banks were not holding require reserves to cover withdrawals.
Does federal law require employers to give employees a lunch break?
State laws typically require a lunch break or other breaks during the work day. Federal law does not typically require it.
Can congress impose federal mandates which require the state government to comply with its orders?
Congress can impose federal mandates, which require the state government to comply with its orders
