The Budgetary Status of the Federal Reserve System: Hearings Before the Subcommitee on Economic Goals and Intergovernmental Policy of the Joint Economic Committee, Congress of the United States, Ninety-ninth Congress, First Session, May 21 and June 27, 1985U.S. Government Printing Office, 1985 - 345 pages |
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Common terms and phrases
accounting administrative amount annual appropriations process approval assets ATLANTA audit Bank's Board of Governors Budget Concepts budget documents budget process capital central bank Chairman CHICAGO CLEVELAND Comptroller Congress Congressional currency DALLAS Deposit depository institutions discount loan discount window dollars economic policy employees expenditures FDIC Federal budget Federal Reserve Act Federal Reserve Banks FEDERAL RESERVE DISTRICT Federal Reserve notes Federal Reserve System FINANCIAL INST Financial Institutions fiscal funds GAAP government agencies included income increase interest rates KANSAS CITY LOUIS member banks ment million Monetary Control Act monetary policy off-budget Office On-budget Open Market outlays oversight PACS payments PENNER percent PHILADELPHIA President priced services PROB YEAR AGO projections receipts regulatory reimbursed Representative HAMILTON Reserve's RICH BOND SAN FRANCISCO securities seigniorage service line Services to Financial Supervision and Regulation SYSTEN TOTAL Table tions TOTAL ACTIVITY COST transactions Treasury securities UNIT PRODUCTION COST
Popular passages
Page 69 - The board of directors of the Corporation shall determine and prescribe the manner in which its obligations shall be incurred and its expenses allowed and paid.
Page 66 - The commission recommended that "the budget should, as a general rule, be comprehensive of the full range of Federal activities. Borderline agencies and transactions should be included in the budget unless there are exceptionally persuasive reasons for exclusion.
Page 175 - 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 176 - ... levied upon them to defray its estimated expenses and the salaries of its members and employees, whose employment, compensation, leave, and expenses shall be governed solely by the provisions of this Act, specific amendments thereof, and rules and regulations of the Board not inconsistent therewith; and funds derived from such assessments shall not be construed to be Government funds or appropriated moneys.
Page 176 - The Board shall determine and prescribe the manner in which its obligations shall be incurred and its disbursements and expenses allowed and paid, and may leave on deposit in the Federal reserve banks the proceeds of assessments levied upon them to defray its estimated expenses and the salaries of its members and employees, whose employment, compensation, leave, and expenses shall be governed solely by the provisions of this Act...
Page 86 - The time, character, and volume of all purchases and sales of paper described in section 14 of this Act as eligible for open-market operations shall be governed with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country.
Page 30 - Milton Friedman and Anna Jacobson Schwartz, A Monetary History of the United States, 1867-1960 (Princeton: Princeton University Press, 1963).
Page 178 - ... experiment, and to adapt itself to a very wide range of circumstances. But in this process of change, it has never lost certain characteristics — an established tradition of independent judgment; a mixture of regional participation in policymaking with ultimate central control that is unique in our Government; an ability to attract highly qualified officials and staff; and a reputation for operating efficiently and impartially.
Page 32 - The Treasury and the Federal Reserve System have reached full accord with respect to debt-management and monetary policies to be pursued in furthering their common purpose to assure the successful financing of the Government's requirements and, at the same time, to minimize monetization of the oublic debt.
Page 69 - ... deposit in the Federal Reserve banks the proceeds of assessments levied upon them to defray its estimated expenses and the salaries of its members and employees, whose employment, compensation, leave, and expenses shall be governed solely by the provisions of this chapter and rules and regulations of the Board not inconsistent therewith; and funds derived from such assessments shall not be construed to be Government funds or appropriated moneys.