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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.
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REQUIRED RESERVES The reserves (vault cash and Federal Reserve deposits) that banks are required by government to keep to back up deposits. The primary use of required reserves is to process daily checkable deposit transactions. The government regulator in charge of setting reserve requires is the Federal Reserve System. Required reserves are usually in the range of 3 to 10 percent for checkable deposits and substantially less (0 percent) for savings deposits. Any legal reserves held by banks over those required to back deposits, termed excess reserves or free reserves, are available for interest-generating loans.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time. " -- Anna Freud, psychologist
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SBA
Small Business Administration
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