货币政策与场利率的确定
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– 监管权分属于监管董事会和蔼2个区域储备局主席Authority is vested in the Board of Governors and the Presidents of the 12 regional reserve banks.
美联储和其他中央银行的区别 How does the Federal Reserve differ from other
financial system ? 为美国政府 ,公众和金融机构提供支付和其他金融
服务Providing payment and other financial services to the U.S. government, the public, FIs and foreign official institutions
? 公开市场操作-买卖美国政府国债等Open market operations—the purchase and sale of U.S. government and federal agency securities
? 确定货币总量供给增长幅度和引导美元时常汇率Sets ranges for growth of monetary aggregates and directs the FR in foreign exchange markets
central banks?
? 美联储比其他中央银行更加疏远政界The Fed is more independent of elected officials than most central banks. ? 与新的欧洲中央银行类似The new European Central Bank shares many of the characteristics of the Federal Reserve System.
? 联邦公开市场业务委员会The Federal Open Market Committee (FOMC)
Structure of the Federal Reserve
F. Mishkin, THE ECONOMICS OF MONEY AND THE ECONOMIC POLICY REVIEW. (c) 1998 Frederic S. Mishkin. Reproduced by Addison Wesley Longman. All rights reserved.
联邦储备银行系统,货币政 策与市场利率的确定
美国联邦储备的组织结构 Structure of the Federal Reserve
F. Mishkin, THE ECONOMICS OF MONEY AND THE ECONOMIC POLICY REVIEW. (c) 1998 Frederic S. Mishkin. Reproduced by Addison Wesley Longman. All rights reserved.
美联储结构 Structure of the Federal Reserve System
? 12个区域储备银行附加10个城市支行12 FR Banks plus 10 branches located in major U.S. cities
? 一个7人华盛顿董事会A 7-member Board of Governors in Washington, DC
美联储和其他中央银行的区别 How does the Federal Reserve differ from other
central banks?
? 不是所有中央银行都有责任监管银行和提供支付系统Not all
central banks have responsibility for bank regulation or the payments system. ?美联储非常分权化 The Fed is exceptionally decentralized.
美联储的货币政策手段 The Fed's Monetary Policy Tools
? 联邦资金利率The federal funds rate
? 贴现率The discount rate ? 储备金率Reserve requirements
美联储的货币政策活动 Federal Reserve Monetary Policy Activities
联邦储备系统的主要职能 Major Duties and Responsibilities
of the Federal Reserve System
? 执行货币政策 Conducting monetary policy ? 指导与监管存款机构 Supervising and regulating
depository institutions ? 维护金融体系稳定 Maintaining the stability of the
Discount window loans
Federal reserve
Biblioteka Baidu
Extensions Add reserves
Repayment Drains reserves
Total reserves In the banking
–Decentralized, independent .
联邦公开市场委员会
Federal Open Market Committee (FOMC)
? 美联储的主要货币政策制定机构The major monetary policymaking body of the FR System
? 主要职责是制定恰当政策来推动充分就业,经济增长,价格 稳定,国际贸易的可持续发展格局Main responsibilities are to formulate policies to promote full employment, economic growth, price stability, and a sustainable pattern of international trade
美联储和其他中央银行的区别 How does the Federal Reserve differ from other
financial system ? 为美国政府 ,公众和金融机构提供支付和其他金融
服务Providing payment and other financial services to the U.S. government, the public, FIs and foreign official institutions
? 公开市场操作-买卖美国政府国债等Open market operations—the purchase and sale of U.S. government and federal agency securities
? 确定货币总量供给增长幅度和引导美元时常汇率Sets ranges for growth of monetary aggregates and directs the FR in foreign exchange markets
central banks?
? 美联储比其他中央银行更加疏远政界The Fed is more independent of elected officials than most central banks. ? 与新的欧洲中央银行类似The new European Central Bank shares many of the characteristics of the Federal Reserve System.
? 联邦公开市场业务委员会The Federal Open Market Committee (FOMC)
Structure of the Federal Reserve
F. Mishkin, THE ECONOMICS OF MONEY AND THE ECONOMIC POLICY REVIEW. (c) 1998 Frederic S. Mishkin. Reproduced by Addison Wesley Longman. All rights reserved.
联邦储备银行系统,货币政 策与市场利率的确定
美国联邦储备的组织结构 Structure of the Federal Reserve
F. Mishkin, THE ECONOMICS OF MONEY AND THE ECONOMIC POLICY REVIEW. (c) 1998 Frederic S. Mishkin. Reproduced by Addison Wesley Longman. All rights reserved.
美联储结构 Structure of the Federal Reserve System
? 12个区域储备银行附加10个城市支行12 FR Banks plus 10 branches located in major U.S. cities
? 一个7人华盛顿董事会A 7-member Board of Governors in Washington, DC
美联储和其他中央银行的区别 How does the Federal Reserve differ from other
central banks?
? 不是所有中央银行都有责任监管银行和提供支付系统Not all
central banks have responsibility for bank regulation or the payments system. ?美联储非常分权化 The Fed is exceptionally decentralized.
美联储的货币政策手段 The Fed's Monetary Policy Tools
? 联邦资金利率The federal funds rate
? 贴现率The discount rate ? 储备金率Reserve requirements
美联储的货币政策活动 Federal Reserve Monetary Policy Activities
联邦储备系统的主要职能 Major Duties and Responsibilities
of the Federal Reserve System
? 执行货币政策 Conducting monetary policy ? 指导与监管存款机构 Supervising and regulating
depository institutions ? 维护金融体系稳定 Maintaining the stability of the
Discount window loans
Federal reserve
Biblioteka Baidu
Extensions Add reserves
Repayment Drains reserves
Total reserves In the banking
–Decentralized, independent .
联邦公开市场委员会
Federal Open Market Committee (FOMC)
? 美联储的主要货币政策制定机构The major monetary policymaking body of the FR System
? 主要职责是制定恰当政策来推动充分就业,经济增长,价格 稳定,国际贸易的可持续发展格局Main responsibilities are to formulate policies to promote full employment, economic growth, price stability, and a sustainable pattern of international trade