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How much does the Federal Reserve require insurance companies to hold in reserve?
Wiki User
∙ 14y ago
I do not believe the Federal Reserve exercises any control over insurance companies. Despite the above answer someone wrote that they do not excercise control it is possible to link them together. From this website... http://www.land.netonecom.net/tlp/ref/federal_reserve.shtml I found other charts and I found this quoted "This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation. Maurice F. Granville Chairman of The Board Texaco Incorporated - ---------------------- | | Texaco Officer & Director Interlocks ---------- Liggett & Myers, Inc. - ------------------------------------ | | | | | L Arabian American Oil Company St John d'el Ray Mining Co. Ltd. O | | N Brown Brothers Harriman & Co. National Steel Corporation D | | O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd. N | | American Express Mutual Life Insurance Co. | | N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc. M. | | Anaconda United Services Life Ins. Co. R | | O Rockefeller Foundation Fairchild Industries T | | H Owens-Corning Fiberglas Blount, Inc. S | | C National City Bank (Cleveland) William Wrigley Jr. Co H | | I Sun Life Assurance Co. National Blvd. Bank of Chicago L | | D General Reinsurance Lykes Youngstown Corporation | | General Electric (NBC) Inmount Corporation
Wiki User
∙ 14y ago
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Why does the Federal Reserve require commercial banks to have reserves?
To ensure that banks maintain a minimum amount of cash to meet the cash withdrawal requirements of its customers
How does the federal reserve make sure that banks are protecting depositors money?
In an efforts to protect depositors money the Federal Reserve requires that banks follow many rules in their day to day business. They require the banks keeps a certain amount of cash on hand at all times and guarantee depositors accounts up to two hundred thousand dollars per account.
What time does the Federal Reserve wire close?
The Fedwire System Closes in the US @ 6Pm EST. Most Banks will Require That You Have Your Wire Submitted Before 5:30 Though.
Has the Federal Reserve System ever been audited?
Answer - in a word, YES. The Federal Reserve has frequent internal audits performed by its Office of the Inspector General. There is also a complete audit of the financial statements of the Federal Reserve every year by a private external auditing firm, currently Deloitte. However the Government Accountability Office - the auditing office of the federal government - is legally restricted from some types of audits.Well, not exactly.... The FED itself has NEVER been audited - period.When we see the disastrous results of an artificially created shortage of currency, we can better understand why our Founding Fathers insisted on placing the power to create and control money in the hands of Congress. Article I, Section 8 of the U.S. Constitution states, "The Congress shall have power... to coin money, regulate the value thereof... "But in 1913 Congress passed the "Federal Reserve Act," relinquishing the power to create and control money to the Federal Reserve Corporation, a private company owned and controlled by bankers. The word "Federal" was used only to deceive the people. The term "central bank" was carefully avoided. The Federal Reserve Act created a Board of Directors, the Federal Reserve Board, to run the Federal Reserve Corporation with a monopoly to create and control the currency of the United States.This infamous legislation was accompanied with appropriate fanfare and propaganda that it would "remove money from politics" and "prevent boom and bust from hurting our citizens." The people were not told then, and still do not know today, that the Federal Reserve Corporation is a private monopolycontrolled by bankers, operated for the financial gain of the bankers at the expense of the people.Since that day of infamy a small group of privileged people who lend us "our money," have accrued to themselves all of the profits of printing paper currency - and more! Since 1913 they have created trillions of dollars in currency and credit, which as their own personal property, they then lend to our government and our people, with interest. "The rich get richer and the poor get poorer" had become the secret policy of our national government.The main architect of the Federal Reserve System was Paul Moritz Warburg, who came from a famous German banking family. The kingpin who steered the Federal Reserve Act through Congress was Senator Nelson Aldrich, Chairman of the Finance Committee. He was the maternal grandfather of Nelson A. Rockefeller, of Standard Oil and Chase Manhattan Bank. Aldrich's daughter, Abby Greene Aldrich, married John D. Rockefeller, Jr. in 1901. At the time, many people regarded Senator Aldrich as the Rockefeller family's mouthpiece in the Senate.The Federal Reserve Act was passed during the presidency of Woodrow Wilson. Just before he died Wilson is reported to have said that he had been deceived and "I have betrayed my country." He also said:"A great industrial nation is controlled by its system of credit. Our system of credit has been concentrated. The growth of the nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world - no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men."There has been much speculation about who owns the Federal Reserve Corporation. It has been one of the best kept secrets of the century, because the Federal Reserve Act Act of 1913 provided that the names of the owner banks be kept secret. However, R. E. McMaster publisher of the newsletter The Reaper, asked his Swiss banking contacts which banks hold the controlling stock in the Federal Reserve Corporation. The answer:Rothschild Banks of London and BerlinLazard Brothers Bank of ParisIsrael Moses Sieff Banks of ItalyWarburg Bank of Hamburg and AmsterdamLehman Brothers Bank of New YorkKuhn Loeb Bank of New YorkChase Manhattan Bank of New YorkGoldman Sachs Bank of New York.In The Secrets Of The Federal Reserve, Eustace Mullins indicates that, because the Federal Reserve Bank of New York sets interest rates and controls the daily supply and price of currency throughout the U.S., the owners of that bank are the real directors of the entire system. Mullins states:"The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914. They are the Rothschilds, Lazard Freres (Eugene Mayer), Israel Sieff, Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests."An example of the process of currency creation and its conversion into "people's debt" will aid our understanding. The Federal Government, having spent more than it has taken from its citizens in taxes, needs (for the sake of illustration) $1 billion. Since it does not have the currency, and Congress has given away its authority to create it, the government must go to the creators for the $1 billion. But the Federal Reserve, a private corporation, does not give its currency away for free! The bankers are willing to deliver $1 billion in currency or credit to the federal government in exchange for the government's agreement to pay it back with interest. So Congress authorizes the Treasury Department to print $1 billion in U.S. Bonds, which are then delivered to the Federal Reserve bankers. (The bonds are a kind of "IOU" that bears interest.)You say this is terrible! Yes it is, but this is only part of the sordid story. Under this "debt-currency" system, those U.S. Bonds referred to above have now become assets of the banks, called their "reserve." Regular commercial banks use these assets to issue loans to individual and commercial customers. Since the banking laws require only about a 12% reserve, this means the banking fraternity can lend up to eight times the amount of the bonds they have on hand. As a result of the $1 billion discussed here, they can lend $8 billion to private customers at interest. This means that together with the $1 billion lent to the government, the bankers can lend out $9 billion at interest for the original cost to them of about $400,000 for the printing! And because the Federal Reserve bankers have been granted a monopoly, the only way our people and businesses can get currency to carry on trade and expand industry and farming is to borrow it from the bankers!
Why do insurance companies need reinsurance?
Reinsurance is essentially insurance for an insurer. That is, it is insurance which the primary insurer (one that issues policies directly to the public) buys to ensure that it has sufficient funding to pay expected claims that may be incurred during the policy period. State insurance regulators require that primary insurers have and maintain sufficient levels of capital and reserves to pay expected claims. Depending upon the amount of capital and reserves, the insurer is permitted to issue a stated dollar amount of primary insurance. One of the ways that the primary insurer can meet the statutory requirements, other than by having all capital and reserves in cash or cash equivalents, is through a reinsurance structure that is approved by the financial authorities of the state insurance regulator.
What insurance companies require gutters?
prostitutional facilities
Do all life insurance companies require that you take a physical in order to get a policy?
No, not all insurance companies require that you take a physical in order to get a policy. One such example is GEICO and Allstate.
What types of boat insurance are required by law and what companies sell it?
There is no state or federal law requiring boat insurance, however if you took out a loan to purchase the boat your bank may require it and some marinas require it. It is a good idea to have some kind of insurance coverage to protect yourself in case of an accident. Many of the companies that sell automobile insurance (such as Progressive and State Farm) also sell boat insurance and you may get discounts for purchasing them at the same time.
If you have a permit do all insurance companies require you to be added to your parents policy?
NO!
Do you have to have a beneficiary on you health insurance?
Some Companies require one But it is not a law
Which life insurance companies do not require a pysical as one of their terms?
Allstate does not require a pysical as one of their terms
Can insurance companies call on receipts submitted in a claim?
Not sure what you are asking but insurance companies have the legal right do require proof of spending for claim settlement.
Does the state of Indiana require insurance companies to replace cracked windshields free of charge?
no
Does flood fringe require flood insurance?
If you live in a flood zone then you must have flood insurance. It is not covered by normal homeowners insurance. It is basically a federal program.
What does Federal Insurance Contributions Act tax require each employer to file?
Form 941
Can I get maternity insurance alone?
Most insurance companies require full insurance coverage and not just for pregnancy. However, there are websites that assist if insurance is a financial burden. http://www.pregnancyinsurance.org/
Do you have to have car insurance in Wisconsin?
All states require Financial Responsiblitly. Most people do not have the amount of money in reserve to meet the min. limits, therefore we buy insurance instead.
