Infrastructure Flashcards
Federal Open Market Committee
a committee within that oversees the nation’s buying and selling of United States Treasury securities, makes key decisions about interest rates and the growth of the United States money supply.
The FOMC is the principal organ of United States national monetary policy and sets monetary policy by specifying the short-term objective for the Fed’s open market operations, (usually a target level for the federal funds rate)
The FOMC also directs operations in foreign exchange markets, coordinated with the U.S. Treasury.
Federal Reserve System
is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act
The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates.
duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stability of the financial system, and providing financial services to depository institutions, the U.S. government, and foreign official institutions.
International Monetary Fund (IMF)
is an international financial institution, headquartered in Washington, D.C., consisting of 190 countries “working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.” Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes.
Board of Governors of the Federal Reserve System
main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms
United States Department of the Treasury
collects all federal taxes through the Internal Revenue Service; manages U.S. government debt instruments; licenses and supervises banks and thrift institutions; and advises the legislative and executive branches on matters of fiscal policy. The department is administered by the secretary of the treasury.
oversees the Bureau of Engraving and Printing, and the U.S. Mint
United States Mint
a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bullion
Bureau of Engraving and Printing (BEP)
a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is Federal Reserve Notes (paper money) for the Federal Reserve
In addition to paper currency, the BEP produces Treasury securities; military commissions and award certificates; invitations and admission cards; and many different types of identification cards, forms, and other special security documents for a variety of government agencies.
U.S. Securities and Exchange Commission (SEC)
large independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929 to enforce the law against market manipulation.
Financial Industry Regulatory Authority (FINRA)
private American corporation that acts as a self-regulatory organization (SRO) which regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange.
Office of the Comptroller of the Currency (OCC)
independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United States
participates in interagency activities in order to maintain the integrity of the federal banking system. By monitoring capital, asset quality, management, earnings, liquidity, sensitivity to market risk, information technology, consumer compliance, and community reinvestment, the OCC is able to determine whether or not the bank is operating safely and soundly, providing fair access and treatment to customers, and complying with all applicable laws and regulations
Federal Deposit Insurance Corporation (FDIC)
one of two agencies that provide deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions
Thrift institution
a type of financial institution that specializes in offering savings accounts and originating home mortgages for consumers. Thrift banks are also sometimes referred to as Savings and Loan Associations (S&Ls)
Office of Thrift Supervision (OTS)
