Name: Foloren Shang
Date: June 27 2010
Field Trip For Federal Reserve Bank of Boston
Today, our destination is located in 600 Atlantic Avenue, the Federal Reserve Bank of boston. It has to obey the responsibility and obligation for American Central Bank. The Federal Reserve Board, Federal Open Market Committee, and Federal Reserve Bank, all of the three organizations constitute the Federal Reserve System. And the Federal Reserve Act was acted in 1913. Since then, the Federal Reserve Bank is one of the significant parts in American Financial system.
The Federal Reserve Bank was established as the Central Banking System making power to 12 Federal Reserve Bank by Congress. It was followed the act which announced in 1913, also passed by the U.S.government. The country is divided into 12 reserve areas, each of the establishment has been proposed in Federal Reserve Bank branched. For instance, the Federal Reserve Bank in Boston is a corporate body and it owns its board of directors.
The duty of the Federal Reserve Bank are setting monetary policy implantation; monitoring the implementation of the banking institutions and protecting the legitimate consumer credit rights; maintaining the stability of the financial system and providing reliable financial services to the U.S. government, the public institutions, foreign institutions.
In this worldwide financial Crisis, the Federal Reserve Bank has exert a great effort on final decision which congress determined. Because it should analysis the profits and deficit that America confront. Thereby, the function of Federal Reserve Bank not only a financial organization,but also the governmental department which adjust and anticipate the finance.
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