Seven-member managing body of the Federal Reserve System commonly called the Federal Reserve Board. The board sets policy on issues relating to banking regulations as well as to the Money Supply.
| Financial & Investment Dictionary: Board of Governors of the Federal Reserve System |
Seven-member managing body of the Federal Reserve System commonly called the Federal Reserve Board. The board sets policy on issues relating to banking regulations as well as to the Money Supply.
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| Business Dictionary: Board of Governors (of the Federal Reserve System) |
Seven-member managing body of the Federal Reserve System; commonly called Federal Reserve Board. The board sets policy on issues relating to banking regulations as well as to the Money Supply. Regulating the money supply is important for regulating inflation, interest rates, and economic growth.
| Banking Dictionary: Board of Governors |
Seven-member board, appointed by the President of the United States and confirmed by the Senate, governing the Federal Reserve System. Federal Reserve governors, who serve for 14-year terms, set Reserve Requirements for depository financial institutions; approve the Discount Rate for short-term Reserve Bank loans to financial institutions, as proposed by each of the 12 Federal Reserve Banks; regulate state chartered Member Banks and bank holding companies; and cast a majority of the votes on the influentialFederal Open Market Committee through which the Federal Reserve directs Monetary Policy. The chairman of the Board of Governors, serving a four-year term, is the senior policy maker in the Federal Reserve System, and represents the Federal Reserve before Congress and federal agencies.
| Wikipedia: Board of governors |
A board of governors is usually the governing board of a public entity or non-profit organizations. It is the public equivalent of the private board of directors.
Many public institutions, such as public universities, are government-owned corporations. The British Broadcasting Corporation was managed by a board of governors, though this role has now been taken by the BBC Trust. In other cases, government services are provided by "independent establishments," which provide an environment mixing a corporation and a government agency (see public-private partnership). These, such as the United States Postal Service, are governed by a board of governors. A more well known example is the Federal Reserve System, which is also partially governed by a board of governors.
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