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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.
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.
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.
A board of governors is usually the governing board of a public entity.
Many public services, such as universities or federal independent agencies are created as corporations owned by the government. 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. 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.
In the United States, public universities often have a similar government known as a board of regents. However, in West Virginia, all public colleges and universities are governed by 12-member boards of governors. The members of the boards of governors in West Virginia are appointed by the governor of the state. The boards consist of 9 lay members and a representative from the faculty, classified staff, and students. In Virginia, institutions such as the University of Virginia, Virginia Polytechnic Institute and State University, College of William and Mary, and Radford University are each governed by a Board of Visitors. (This naming is unusual in the USA; many institutions have a Board of Visitors, but this normally acts in an advisory capacity rather than a governing one, and reports to a separate governing board.) In New York State, the Board of Regents of the University of the State of New York oversees public education, including SUNY, affiliated community colleges, and the entire public school system via the Regents Examinations. High school graduates may receive Regents Scholarships to defray expenses at NY universities.
Some private corporations, typically nonprofit corporations, style their governing boards as boards of governors.
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Copyrights:
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 | Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Wikipedia. This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Board of governors". Read more |
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