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BALANCE OF SERVICES: The difference between funds received by a country when exporting services and the funds paid for importing services. The balance of services is one part of the current accounts portion of the balance of payments, the other is major part is the balance of trade. The balance of services is very much like the merchandise balance of trade, excepct intangible services are being exported and imported rather than tangible goods. Like the balance of trade, the balance of services can be out of balance. A balance of services surplus results if service exports exceed imports, also termed a favorable balance of services, and a balance of services deficit exists if service imports exceed exports, analogously termed an unfavorable balance of services.
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THRIFT INSTITUTIONS ADVISORY COUNCIL: A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with thrift institutions (savings and loan associations, credit unions, and mutual savings banks). The Thrift Institutions Advisory Council (TIAC) is comprised of 12 members, each serving for 2 years, who represent the interests of savings and loan associations, credit unions, and mutual savings banks. The TIAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Consumer Advisory Council. The Thrift Institutions Advisory Council (TIAC) is an advisory council that was established in 1980 when the Federal Reserve System extended regulatory oversight to thrift institutions (savings and loan associations, credit unions, and mutual savings banks). The Thrift Institutions Advisory Council contains 12 members, each serving for 2 years and appointed directly by the Board of Governors, who represent the interests of savings and loan associations, credit unions, and mutual savings banks.The Thrift Institutions Advisory Council is designed to provide the Federal Reserve Board with advice and feedback in its role as a regulator of thrift institutions. In 1980, the Monetary Control Act extended regulatory oversight of thrift institutions to the Federal Reserve Board of Governors. To assist in these new duties, the Board created the TIAC for feedback from representatives of thrift institutions. The council meets with the Federal Reserve Board 3 times a year to discuss the special needs and concerns of thrift institutions. Two additional advisory councils provide the Federal Reserve Board with advice and feedback on Federal Reserve activity--Federal Advisory Council and Consumer Advisory Council. - Federal Advisory Council: This council is comprised of 12 members, one from each of the 12 Federal Reserve Districts. A council member, typically a commercial bank president operating in the district, is appointed by the Federal Reserve District Bank and serves three one-year terms. The Federal Advisory Council (FAC) meets with the Federal Reserve Board at least four times a year, generally the first Friday in February, May, September, and December, to discuss any and all issues relevant to the Federal Reserve System.
- Consumer Advisory Council: Advice on credit consumer protection activities of the Federal Reserve Board is offered by this council of 30 members. The Consumer Advisory Council (CAC) was established in 1976 and contains members who represent consumers and financial groups, including both academicians and legal specialists with knowledge of consumer affairs. Members serve staggered 3 year terms. The council meets with the Federal Reserve Board three times a year
Recommended Citation:THRIFT INSTITUTIONS ADVISORY COUNCIL, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 27, 2024]. Check Out These Related Terms... | | | | | | | | | | | | | | | Or For A Little Background... | | | | | | | | | | | | | | And For Further Study... | | | | | | | | | | | | | Related Websites (Will Open in New Window)... | |
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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for infected paper cuts. Your Complete Scope
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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