Federal Reserve System: Current and Future Challenges Require Systemwide AttentionDIANE Publishing, 1996 - 154 pages Established 1913, the Federal Reserve, our nation's central bank, is unique among governmental entities in its mission, structure, and especially its finances. It is a self-financing entity. This report reviews the operations of the Federal Reserve; discusses finances, including levels of spending and factors that could affect its finances; reviews the major expenditures; and discusses areas where spending may possible be reduced. Discusses how the Federal Reserve's unique structure presents challenges in systemwide management. Charts and tables. |
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12 Reserve Banks assets audit automation bank examinations bank supervision Bank's Board and Reserve Board of Governors cafeteria capital Chairman competition consolidation depository institutions directors discount window draft report DRBOPS effective efficiency ensure Evaluator Exist to Reduce Faces Major Mission-Related FDIC federal government Federal Reserve Act Federal Reserve Banks Federal Reserve benefits Federal Reserve Board Federal Reserve notes Federal Reserve Operating Federal Reserve System Fedwire financial institutions financial services flexible spending accounts Focus Would Strengthen FRAS Greater Systemwide Focus increase Major Mission-Related Challenges million mission monetary policy Opportunities Exist overall oversight percent personnel compensation priced services programs providing Reduce Federal Reserve repurchase agreements Reserve Operating Expenses Reserve System Faces Reserve's responsibilities result revenues salaries securities services to financial Source Special drawing rights staff staffing Strategic Management Processes strategic planning Strengthen Strategic Management structure supervision and regulation surplus account System Faces Major Table
Popular passages
Page 22 - An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.
Page 29 - Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers...
Page 79 - The Federal Reserve Act authorizes the Federal Reserve to charge fees for bank examinations, but the Federal Reserve has not done so, either for the state-member banks it examines or the bank-holding company examinations it conducts.
Page 141 - Bank's board of directors. Consistent with current business practice, all audit committee members (in fact, all members of the boards of directors) are outside directors who are independent of management. The audit committee selects the Bank's General Auditor, approves the annual audit plan...
Page 135 - Comments From the Board of Governors of the Federal Reserve System Note: GAO comments supplementing those in the report text appear at the end of this appendix. See comment 1.
Page 104 - Inspector General Act of 1978". PURPOSE; ESTABLISHMENT SEC. 2. In order to create independent and objective units — (1) to conduct and supervise audits and investigations relating to programs and operations of * * * the...
Page 88 - Executive Guide: Improving Mission Performance Through Strategic Information Management and Technology, (GAO/AIMD-94-115, May 1994). For an overview of the IT management process envisioned by Clinger-Cohen see Assessing Risk and Returns: A Guide for Evaluating Federal Agencies' IT Investment Decision-making (GAO/AIMD-10.1.13, February 1997).
Page 114 - ... process redesign typically fail or reach only a fraction of their potential. Those that ignore technology usually leave significant opportunities on the table. Using business process reengineering to drive information systems initiatives can lead to order-of-magnitude customer satisfaction and/or cost savings, rather than the marginal efficiency gains normally associated with initiatives that use technology to do the same work, the same way, only faster. On the other hand, if several process...
Page 2 - Federal Reserve Board Direct Improve efficiency The Federal Reserve is responsible for conducting monetary policy, maintaining the stability of financial markets, providing services to financial institutions and government agencies, and supervising and regulating banks and bank-holding companies. The Federal Reserve is unique among governmental entities in its mission, structure, and finances. Unlike federal agencies funded through congressional appropriations, the Federal Reserve is a self-financing...
Page 44 - Board, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).