"The leaders of the Reserve Banks
have important jobs and are expected to perform at a high level," said Governor Jerome H.
The Federal Reserve Banks
have conducted additional research to inform the roadmap and are seeking feedback on the findings.
Events surrounding the 2007 financial crisis raised questions about the governance of the 12 Federal Reserve Banks
), particularly the boards of directors' roles in activities related to supervision and regulation.
To some extent, the Reserve Bank
's historical policy of maintaining solely hedged reserves was unusual compared to international central Reserve Bank
practice, where almost all other central Reserve Banks
maintain most, if not all of their foreign reserves on an unhedged basis.
On September 22, 2005, the Federal Reserve Board approved actions by the Boards of Directors of the Federal Reserve Banks
of Cleveland, Atlanta, and Dallas, increasing the discount rate at the Banks from 4 1/2 percent to 4 3/4 percent.
As part of their ongoing effort to respond to the significant shift away from the use of paper checks and toward the much greater use of electronic payments, the Federal Reserve Banks
will discontinue check processing at the Federal Reserve Bank
of New York's East Rutherford Operations Center.
The discount rate is the interest rate banks pay when they borrow from Federal Reserve Banks
. Discount rate requests are formally made by the board of directors of the Reserve Banks--not by the Reserve Bank
New Zealands new monetary policy framework, which comes into effect today, is supported by a handbook developed by the Reserve Bank
. Recent amendments to the Reserve Bank
Act 1989 saw the addition of an employment objective to the Reserve Banks
long-standing price stability objective, and the creation of a formal Monetary Policy Committee with members from both inside and outside the Reserve Bank
The following list shows the primary components of the Federal Reserve Banks
' 2013 net earnings:
These amendments are part of a series of amendments to appendix A that will take place through the first quarter of 2006, associated with the previously announced restructuring of the Reserve Banks
' check-processing operations.
The Coalition Government previously expanded the Reserve Banks
mandate to support maximum sustainable employment alongside maintaining price stability.
The Reserve Banks
had interest expenses of $3.9 billion on depository institutions' reserve balances and term deposits.