Post on 01-Jan-2016
transcript
MONEY, BANKING AND
THE FED
FUNCTIONS OF MONEY
MEDIUM OF EXCHANGE
UNIT OF ACCOUNTINGSTORE OF VALUE
CHARACTERISTICS OF MONEY
DURABLEPORTABLEDIVISIBLE
STABLESCARCE ACCEPTED
TYPES OF MONEY
COMMODITY MONEYREPRESENTATIVE MONEY
FIAT MONEY
MONEY VS. NEAR MONEY
MONEYCURRENCYCHECKSCREDIT CARDSDEBIT CARDS
NEAR MONEYVALUE IN TERMS OF MONEY
LIQUIDATE EASILY
TYPES OF NEAR MONEYSAVINGS ACCOUNTCERTIFICATES OF DEPOSIT
MUTUAL FUNDS
M1SPEND IMMEDIATELY
–BILLS–COINS–CHECKS
M2 = M1 + near money
BANKING SERVICES
CHECKINGSAVINGSSAFE DEPOSIT BOXES
TRANSFER MONEY
OVERDRAFT CHECKING
SERVICES CHARGES
BALANCING A CHECKBOOK
The FED
JANET YELLEN, CHAIRMAN OF THE FEDERAL RESERVE
FUNCTIONS OF THE FED
CONSUMER PROTECTION
CHECK CLEARINGGOVERNMENT’S
FISCAL AGENTSUPERVISE
MEMBER BANKS
SET RESERVE REQUIREMENT
SUPPLY CURRENCY
REGULATE MONEY SUPPLY
STRUCTURE OF THE FED
BOARD OF GOVERNORSFEDERAL OPEN MARKET
COMMITTEEFEDERAL ADVISORY COUNCILFEDERAL RESERVE BANKSMEMBER BANKS
TOOLS OF THE FED
RESERVE REQUIREMENTS
DISCOUNT RATEOPEN MARKET OPERATIONS