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Nationally chartered bank that is subject to the supervision

? Discuss the major functions of the Federal Reserve Board
? Recognize the role of the FED as the commercial bank of the US Treasury
? Analyze the supervisory and regulatory authority of the FED over the activities of banks in their district
? Explain the FED responsibility in the collection and replacement of damaged currency from circulation
? Describe the FED role in the processing, routing, and transfer of funds from one bank to another
? Explain the Federal Reserve Communication System for wire transfers between the FED and the commercial banks
? Evaluate the role of the FED in conducting research and interpreting economic data
? Evaluate the role of the FED in setting discount rates and the effect of the rate changes on the US Financial System
? Discuss the role of The Office of the Comptroller of Currency, regulation 9, and the impact on trust departments

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Solution Preview

Federal Reserve is the central bank of the United States and includes the Board and twelve regional Reserve Banks. Over the years its role in banking and the economy has expanded and today Federal Reserve performs a vast range of duties from supervising to controlling currency in the nation. Federal Reserve has greater implications for national economic and financial policy. Apart from performing routine functions, Federal Reserve has important role in conducting research, and interpreting economic data for better visibility of the future of the nation.
Major functions of Federal Reserve Board
Intermediary: The Federal Reserve plays an important role as an intermediary in clearing and settling interbank payments.
Currency and coin: An important function of Federal Reserve is to ensure that enough cash is in circulation to meet the public's demand. Hence the FRB plays an important role in the nation's payment system.
Supervision and regulation: The Federal Reserve performs a broad range of supervisory and regulatory responsibilities that affect the entire U.S banking system. The board seeks to promote safety and soundness, ensure compliance with laws and regulations, and foster the fair and efficient delivery of services to customers of financial institutions (Smale, 2010).
Reporting: The FRB provides reporting on a wide range of issues affecting the economy and banking industry. It has requirements for semi-annual monetary policy reporting which contribute to the ability of the nation to take a coordinated look at government's economic policies.
Role as Commercial Bank of U.S. Treasury
The Fed works with U.S. Treasury on various aspects of international financial policy. It undertakes foreign exchange transactions aimed at influencing the value of dollar in relation to foreign currencies with a goal of stabilizing disorderly market ...

Solution Summary

The nationally chartered bank that is subject to the supervision is determined.