X-Nico

unusual facts about Federal Reserve



Adam Posen

His most cited and influential publications include the books Restoring Japan's Economic Growth (1998) and Inflation Targeting: Lessons from the International Experience (1999, co-authored with Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System in the US, et al.), and a series of articles on the political economy of central bank independence, as well as more recent works on the global roles of the dollar and the euro.

Allan H. Meltzer

Meltzer served, from 1973 to 1999, as the Chair of the Shadow Open Market Committee, a group of economists, academics, and bankers that met to critique the actions of the Federal Reserve's Federal Open Market Committee.

Chartis

As part of the financial crisis of 2007–2008, AIG suffered a liquidity crisis resulting in it being bailed out by the Federal Reserve, and the United States Department of the Treasury receiving warrants to acquire a controlling stake in the company.

Deleveraging

Therefore, some economists, including John Geanakoplos, strongly argue that the Federal Reserve should monitor and regulate the system-wide leverage level in the economy, limiting leverage in good times and encouraging higher levels of leverage in bad times, by extending lending facilities.

Federal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia – headquartered at 10 N. Independence Mall West (N. 6th Street) at Arch Street, Philadelphia, Pennsylvania, with an additional entrance at N. 7th Street – is responsible for the Third District of the Federal Reserve, which covers eastern and central Pennsylvania, the nine southern counties of New Jersey, and Delaware.

Geneva Securities Convention

In this centralised system, the title transfer of the securities does not take place at the time of the registration on the account of the investor, but within the systems managed by the DTC and/or by the Federal reserve.

Since 1994, Article 8 of the UCC considers that the majority of the dematerialised securities that are registered on an account with intermediaries are only reflections of their respective initial issue registered by the two American central securities depositories, respectively the Depository Trust Company (DTC) for the securities issued by corporates and the Federal reserve for the securities issued by the Treasury Department.

Gift of Life Bone Marrow Foundation

Gift of Life was founded following a successful bone marrow registration drive to save the life of Jay Feinberg, a 23-year-old analyst with the Federal Reserve.

Guido Mantega

Marsh's comments came as the Federal Reserve's Ben Bernanke was beginning to explore the end of QE and one impact was a "withdrawal of liquidity" from markets such as Brazil's.

International status and usage of the euro

Former Federal Reserve Chairman Alan Greenspan gave his opinion in September 2007 that the euro could indeed replace the US dollar as the world's primary reserve currency.

Investment Securities

Since 1994, Article 8 of the UCC considers that the majority of the dematerialized securities that are registered on an account with intermediaries are only reflections of their respective initial issue registered by the two American central securities depositories, respectively the Depository Trust Company (DTC) for the securities issued by corporates and the Federal reserve for the securities issued by the Treasury Department .

In this centralized system, the title transfer of the securities does not take place at the time of the registration on the account of the investor, but within the systems managed by the DTC and/or by the Federal reserve.

Jean Peyrelevade

In 2006 the bank and Peyrelevade were charged in the federal court of Los Angeles with two felonies concerning false statements to the Federal Reserve.

Maryam Nemazee

She has interviewed some of the world's top political and business leaders, including: the former Chairman of the Federal Reserve Paul Volcker, OPEC Secretary-General Abdallah Salem el-Badri, and IMF Managing Director Christine Lagarde.

Nelson W. Aldrich Jr.

He is a great-grandson of Nelson W. Aldrich who was a leader of the Republican Party in the Senate and fundamental in the founding of the Federal Reserve banking system in the United States.

Predictive modelling

The models produced impressive profits until a spectacular debacle that caused the then Federal Reserve chairman Alan Greenspan to step in to broker a rescue plan by the wall street broker dealers in order to prevent a meltdown of the bond market.

Repurchase agreement

When transacted by the Federal Open Market Committee of the Federal Reserve in open market operations, repurchase agreements add reserves to the banking system and then after a specified period of time withdraw them; reverse repos initially drain reserves and later add them back.

Sonny Bloch

The Sonny Bloch Show featured such prominent guests as Chemical Bank's Irwin Kellner and Federal Reserve Chairman Alan Greenspan.

The Economics of Innocent Fraud

8. The illusion that the Federal Reserve, by raising or lowering interest rates, has any effect whatsoever on spurring growth or preventing inflation.

The Obama Deception: The Mask Comes Off

The film presents the conspiracy theory that American presidents since the 1960s have served as "front men" for entities such as the Council on Foreign Relations, Trilateral Commission, Bilderberg Group, Wall Street banks, the Federal Reserve, the Military-industrial complex, the Mossad, and others, arguing that multinational corporations and powerful elite families, such as the Rothschild family and Rockefeller family hold the real "power behind the throne."

Uniform Commercial Code

That update of the UCC treats the majority of the transfers of dematerialized securities as mere reflections of their respective initial issue registered by the two American central securities depositories, respectively the Depository Trust Company (DTC) for the securities issued by corporations and the Federal reserve for the securities issued by the Treasury Department.

In this centralised system, the title transfer of the securities does not take place at the time of the registration on the account of the investor, but within the systems managed by the DTC or by the Federal reserve.

United States House Financial Services Subcommittee on Financial Institutions and Consumer Credit

The subcommittee oversees all financial regulators, such as the Federal Deposit Insurance Corporation and the Federal Reserve, all matters pertaining to consumer credit including the Consumer Credit Protection Act and access to financial services, as well as the safety and soundness of the banking system.

United States v. Alcoa

Former Federal Reserve chairman Alan Greenspan criticized United States v. Alcoa as a young man in 1966, in an essay published in Capitalism: The Unknown Ideal.

Utah Construction Company

Thomas D. Dee served as the first president of Utah Construction until his death in 1905, David Eccles served as the second president, and David Eccels son Marriner Stoddard Eccles became the president of Utah Construction concurrently with being the Federal Reserve Chairman.

Warehouse Act of 1916

The Warehouse Act of 1916 permitted Federal Reserve member banks to give loans to farmers on the security of their staple crops which were kept in Federal storage units as collateral.

Washington Agreement on Gold

The Washington Agreement on Gold was signed of 26 September 1999 in Washington, D.C. during the International Monetary Fund (IMF) annual meeting, and the US Secretary of the Treasury, Lawrence Summers, and the Chairman of the Federal Reserve, Alan Greenspan, were present.


see also

2003 world oil market chronology

June 10: Federal Reserve Chairman Alan Greenspan notes that rising natural gas prices in the United States could have a negative impact on the economy in the months ahead if prices remain at high levels.

Adam Smith College

The Adam Smith Lecture series has attracted prestigious national and international speakers including: Alan Greenspan KBE, who spoke while Chairman of the Federal Reserve in the USA; and Sir Mervyn King, Governor of The Bank of England, both of whom were introduced by The Rt Hon Gordon Brown MP, former Prime Minister and last Chancellor of the College.

APMEX

2010 – APMEX leases the site of the former Federal Reserve Bank of Oklahoma City as its new home and moves operations to that location.

Columbia University Club of New York

Lee Bollinger, President of Columbia University (2002), President of the University of Michigan, Provost of Dartmouth College, Chair of the Board of Directors of the Federal Reserve Bank of New York, named defendant in U.S. Supreme Court affirmative action cases Grutter v. Bollinger and Gratz v. Bollinger

Donald Kohn

These works were published in volumes issued by various organizations, including the Federal Reserve System, the Bank of England, the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, the National Bureau of Economic Research, and the Brookings Institution.

Downcity Providence

The Financial District is also home to The Arcade, a historic indoor shopping center, the Federal Reserve Building, and Kennedy Plaza.

Elizabeth Duke

Elizabeth A. Duke (born 1952), member of the Board of Governors of the Federal Reserve System

Estate tax in the United States

William H. Gates, Sr. and Chuck Collins, with foreword by former Federal Reserve Chairman Paul Volcker, Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes, Beacon Press (2003)

Esther Brimmer

Brimmer is the daughter of Andrew Brimmer, the first African American to have served as governor of the Federal Reserve System.

Eugene Black

Eugene Robert Black (1873–1934), Chairman of the Federal Reserve, 1933–1934

Eugene Emond

Emond was influential in establishing a more formal relationship between the Federal Reserve and the Bank of England.

Federal Reserve Bank

California, Florida, Missouri, Ohio, Pennsylvania, Tennessee, and Texas are the only states which have two or more Federal Reserve Bank branches seated within their states, with Missouri, Pennsylvania, and Tennessee having branches of two different districts within the same state.

Federal Reserve Bank of Atlanta

The current president, Dennis P. Lockhart took office March 1, 2007, as the 14th president and chief executive officer of the Sixth District Federal Reserve Bank, at Atlanta.

Federal Reserve Bank of Minneapolis

The Federal Reserve moved two blocks away on Marquette Avenue to a building now known as Marquette Plaza, which is constructed much like a suspension bridge with cables strung between pillars at the ends carrying the load.

Federal Reserve Bank of San Francisco Portland Branch

The Federal Reserve Bank of San Francisco Portland Branch is one of four branches of the Federal Reserve Bank of San Francisco.

Federal Reserve Bank of San Francisco, Los Angeles Branch

A newer adjacent structure structure housing the Federal Reserve Bank branch in Los Angeles was designed by Dan Dworsky and opened in the 1990s.

Foster School of Business

Andrew Brimmer, the first African American to serve as governor of the Federal Reserve System

George Clay

George H. Clay (1911–1995), president of the Federal Reserve Bank of Kansas City, 1961–1976

Georgia Marble Company

The Georgia Marble Company supplied the marble used to build the New York Stock Exchange annex, the statue in the Lincoln Memorial in Washington, D.C., the National Air and Space Museum, the East Wing of the National Gallery of Art, the Federal Reserve Bank in Cleveland, and the Buckingham Fountain in Chicago.

Great Recession in the United States

On September 17, 2008, Federal Reserve chairman Ben Bernanke advised Secretary of the Treasury Henry Paulson that a large amount of public money would be needed to stabilize the financial system.

Hönig

Thomas M. Hoenig (born 1946) eighth chief executive of the Tenth District Federal Reserve Bank, in Kansas City, United States.

Impeachment investigations of United States federal officials

On February 12, 1917, Rep Charles Lindbergh, Sr., father of "Lucky Lindy", offered articles of impeachment against five members of the Federal Reserve Board.

James Bullard

James B. Bullard, president of the Federal Reserve Bank of St Louis

James Henry Deese

In 1936 he joined Carrier Corporation as field project engineer installing first air conditioning in the U.S. Capital and the Federal Reserve Buildings.

Jamie Raskin

On October 4, 2010, she was sworn in as a governor of the Federal Reserve Board by Fed Chairman Ben Bernanke.

Liz MacDonald

MacDonald has appeared on television with former presidential candidates, Congressmen and Senators, as well as notables such as Pat Buchanan, Ben Stein, Robert Reich, Art Laffer, Stephen Moore, Steve Forbes, energy expert Daniel Yergin, president of Cambridge Energy Research Associates, and Adam Posen, co-author with Federal Reserve chairman Ben Bernanke and Frederic Mishkin of a book about inflation-targeting.

Mark Olson

Mark W. Olson (born 1943), U.S. Federal Reserve governor from 2001 to 2006

Michael H. Moskow

Since leaving his position at the Federal Reserve, Moskow joined the boards of Discover Financial Services, Northern Funds, Taylor Capital Group, Commonwealth Edison, and Diamond Management & Technology Consultants (which merged with PricewaterhouseCoopers in November 2010).

Montgomery Township, New Jersey

Ben Bernanke (born 1953), Chairman of the Federal Reserve, former resident and member of the Montgomery Township Board of Education.

National Program Office

The facility also housed the central switching center for the Federal Reserve's Fedwire system until 1988 when all money was removed, switching was decentralized, and the site deactivated as a NPO facility.

Northstar Line

At Target Field station, the parallel rail lines of the old Great Northern Railway (north side track now BNSF) and the Minneapolis and St. Louis Railway (south side track now Union Pacific) travel eastbound past the Federal Reserve Bank, the site of the old Minneapolis Great Northern Depot, across the Mississippi River on the Minneapolis BNSF Rail Bridge, and then across Nicollet Island.

Occupy the SEC

On February 26, 2013, Occupy the SEC filed a suit in the Eastern District Court of New York naming the Federal Reserve, the SEC, CFTC, OCC, FDIC, and the U.S. Department of the Treasury calling for implementation of the “Volcker Rule” (Section 619 of the Dodd-Frank Act of 2010).

Oil reserves in Mexico

In June 2007, former U.S. Federal Reserve Chairman Alan Greenspan warned that declining oil production in Mexico could cause a major fiscal crisis there, and that Mexico needed to increase investment in its energy sector to prevent it.

Panic of 1930

The Federal Reserve Bank of Atlanta opened the discount window to solvent member banks which had illiquid securities and needed liquidity.

Paul Volcker

In 1962, Robert Roosa, who had been his mentor at the Federal Reserve, hired him at the Treasury Department as director of financial analysis.

Primary Dealer Credit Facility

In a hearing of the United States House Committee on Financial Services on January 13, 2009, Rep. Alan Grayson (D-Fl) pressed Federal Reserve Vice Chairman Donald Kohn about releasing the details of exactly which firms have received funds from the Federal Reserve and specifically how much.

Richard Fisher

Richard W. Fisher (born 1949), President and CEO of the Federal Reserve Bank of Dallas

Richmond Jewish Foundation

Other prominent Virginians associated with the organization include Jeffrey M. Lacker, Richmond Federal Reserve and the late US Congressman Norman Sisisky and his wife.

Robert D. McTeer

As a member of the Federal Open Market Committee on the Federal Reserve, he was considered "dovish" on inflation and was one of the most consistent opponents of raising the federal funds rate in the late 1990s.

Roy Young

Roy A. Young (1882–1960), American banker; past chairman of the Federal Reserve

Speculative attack

The first model of a speculative attack was contained in a 1975 discussion paper on the gold market by Stephen Salant and Dale Henderson at the Federal Reserve Board.

Suzanne Garment

She has served as a visiting scholar at the Indiana University Center on Philanthropy at Indiana University; special counsel to Richard Ravitch, New York Lieutenant Governor and as counsel to the Task Force on the State Budget Crisis, co-chaired by Ravitch and former Federal Reserve chairman Paul Volcker.

Systemic bias

Even Federal reserve chairmen get bullied and have their faces slapped if they stick to their guns, which will, not surprisingly, be rare since everyone values his career or does not want to be replaced à la Mr. Volcker.

Term Asset-Backed Securities Loan Facility

Senator Chuck Grassley has requested detailed information from Waterfall about its transactions and Sanders has asked Federal Reserve chief Ben Bernanke for more detailed information on loans made to Waterfall, former Miami Dolphins owner H. Wayne Huizenga and John Paulson, a hedge fund manager.

Warsh

Kevin Warsh (born 1970), member of the Board of Governors of the Federal Reserve System

William McChesney Martin

In 1913, Martin's father was summoned by President Woodrow Wilson and Senator Carter Glass to help write the Federal Reserve Act that would establish the Federal Reserve System on December 23 that same year.