The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
In economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and finance, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately. Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets.
East Alton is a village in Madison County, Illinois, United States. The population was 6,301 at the 2010 census.
Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short-term interest rates.
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The United States one-hundred-dollar bill ($100) is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was launched in 1914, alongside other denominations. Statesman, inventor, diplomat, and American founding father Benjamin Franklin has been featured on the obverse of the bill since 1914. On the reverse of the banknote is an image of Independence Hall in Philadelphia, which has been used since 1928. The $100 bill is the largest denomination that has been printed and circulated since July 13, 1969, when the denominations of $500, $1,000, $5,000, and $10,000 were retired. As of December 2018, the average life of a $100 bill in circulation is 22.9 years before it is replaced due to wear.
Capella Tower is an office skyscraper in Minneapolis, Minnesota, United States. The building opened in 1992 as First Bank Place, replacing One Financial Plaza as the headquarters for First Bank System. In 1997, First Bank System acquired US Bancorp and changed the name of the building to US Bancorp Place. The headquarters of US Bancorp moved into the US Bancorp Center in 2000, whereupon the tower changed to 225 South 6th Street. In March 2009, the building took its present name.
William McChesney Martin Jr. was the ninth and longest-serving Chairman of the United States Federal Reserve Bank, serving from April 2, 1951, to January 31, 1970, under five presidents. Martin, who once considered becoming a Presbyterian minister, was described by a Washington journalist as "the happy Puritan".
The Harry S. Truman Presidential Library and Museum is the presidential library and resting place of Harry S. Truman, the 33rd President of the United States (1945–1953), his wife Bess and daughter Margaret, and is located on U.S. Highway 24 in Independence, Missouri. It was the first presidential library to be created under the provisions of the 1955 Presidential Libraries Act, and is one of thirteen presidential libraries administered by the National Archives and Records Administration (NARA).
Excess reserves are bank reserves held by a bank in excess of a reserve requirement for it set by a central bank.
The Herbert F. Johnson Museum of Art is an art museum located on the northwest corner of the Arts Quad on the main campus of Cornell University in Ithaca, New York. Its collection includes two windows from Frank Lloyd Wright's Darwin D. Martin House, and more than 35,000 other works in the permanent collection. It was designed by architect I.M. Pei and is known for its distinctive concrete facade.
The Federal Reserve Bank of Kansas City is located in Kansas City, Missouri and covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. It is second only to the Federal Reserve Bank of San Francisco in size of geographic area served. Missouri is the only state with two main Federal Reserve Banks; the other is located in St. Louis.
The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It has branch offices in Cincinnati and Pittsburgh. The check processing center in Columbus, Ohio, was closed in 2005. The chief executive officer and president is Loretta Mester.
The Federal Reserve Bank of Atlanta,, is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta, Georgia.
Dallas City Hall is the seat of municipal government of the city of Dallas, Texas, United States. It is located at 1500 Marilla in the Government District of downtown Dallas. The current building, the city's fifth city hall, was completed in 1978 and replaced the Dallas Municipal Building.
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.
925 Grand is the former headquarters of the Federal Reserve Bank of Kansas City and was the oldest building in active use of any Federal Reserve Bank. It was added to the National Register of Historic Places in 2007.
The United States dollar is the official currency of the United States and its territories per the Coinage Act of 1792. One dollar is divided into 100 cents, or into 1000 mills for accounting and taxation purposes. The Coinage Act of 1792 created a decimal currency by creating the dime, nickel, and penny coins, as well as the dollar, half dollar, and quarter dollar coins, all of which are still minted in 2021.
Reserve Requirements for Depository Institutions is a Federal Reserve regulation governing the reserves that banks and credit unions keep to satisfy depositor withdrawals. Although the regulation still requires banks to report the aggregate balances of their deposit accounts to the Federal Reserve, most of its provisions are inactive as a result of policy changes during the COVID-19 pandemic.
The Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas. The branch is located on Allen Parkway in the Fourth Ward of Houston, Texas. The 297,000-square-foot (27,600 m2) building, which includes the second largest currency vault in the country, was designed by architect Michael Graves.
