June 27th
Lisa
Lu yisha
This week, the theme of our Exploring America Class is about business, so we went to the Federal Reserve Bank of Boston last Friday. It is said that the Federal Reserve Banks are "independent, privately owned and locally controlled corporations".
The Federal Reserve Bank of Boston is located in Dewey Square. Entering the bank is not as easy as you think; we should have a security check before visiting it. The officer of the bank put together a presentation filled with the history, monetary policy, banking information& regulation and payment systems of the Federal Reserve Bank.
I am interested in the part of payment system. It is included with three main sections Oversight Expectations---management of risks in payment and overview the systems with systemic risks, Reserve Bank Systems – provide Fedwire Funds Service and the Fedwire Securities Service and Private-Sector Systems--- supervisor for clearing, some settlement arrangements and important payments.
Although the presentation is a little bit boring and most of us feel like fallen asleep, it trip is really meaningful.
Yeah, although is a little bit boring, it is very meaningful!
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