COPYRIGHTED MATERIAL
EXPLORING 21st CENTURY SKILLS AND ISSUES
7. In addition to making and implementing monetary policy, the Fed’s functions include financial services and banking supervision . What are those? Describe: (About the Fed – by Function) a. Financial Services: _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ b. Banking Supervision _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 8. According to Learning Markets (www.learningmarkets.com/the-goals-of-the-federal-reserve), the goals of the Fed monetary policy are to promote all of these, except: a. stability in the financial system b. stable prices, full employment and economic growth c. moderate long-term interest rates and currency d. Overseas trade 9. The Fed operates through Reserve Banks located in districts throughout the country. How many Reserve Bank districts are there, and where are they located? (See About the Fed; Structure and Functions.) _ ______________________________________________________________________________ _ ______________________________________________________________________________ 10. Find the Reserve Bank district you live in (The Structure of the Federal Reserve System – Click on map). Write the address of the Reserve Bank in your district below. Are tours available at your district bank? If so, why not take a tour? (Click on map.) _ ______________________________________________________________________________ _ ______________________________________________________________________________ 11. Can you walk into the Federal Reserve Bank, a central bank, or reserve district bank and make a deposit or open an account? __________ 12. Name the Fed’s UK, Chinese, Eurozone, and Japanese central bank counterparts : _ ______________________________________________________________________________ _ ______________________________________________________________________________ The Fed is a bank for banks. It provides financial services to banks, credit unions, and savings and loans, much like those that banks provide for their customers. These services include collecting checks, electronically transferring funds and distributing and receiving cash and coin . The Fed supervises and regulates financial institutions and works in conjunction with other federal and state authorities to ensure that financial institutions safely manage their operations and provide fair and equitable services to consumers. 12; Boston , New York, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, San Francisco The Bank of England, The People’s Bank of China, the European Central Bank and the Bank of Japan No PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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