Ce SET TT 00 Bank location ~ Board of Governors S % Ue MTA MEL Cm Ain tf i ebete ttetet tHdtE 5 + 7=12° NewYork and four All members of the Board at each of the eight FOMC others on a rotating basis* of Governors vote meetings during the year “All presidents participate fully in FOMC meetings even if they are not currently voting members. NEN AAs Payment Services Supervision & Regulation Discount rate fC La Interest on required and excess reserves Die Meee ean ea} eC Open market operations Fiscal agent for the U.S. Treasury ATE CIA) CMe EN eal} eS LS Safety & soundness SLY Funds transfers Term deposit facility The Federal Reserve sets its policies to promote the following two conditions: Maximum employment Price stability Peak EMU 5-5.2% val) as reflected in the FOMC's Summary of Economic Projections The Federal Reserve System serves as the lender of last resort, a place where banks with good collateral can turn when they can’t obtain credit elsewhere ‘and their inability to obtain credit could put the nation’s economy at risk, Commercial bank with good collateral RA PSC PACT RA ooo Reis mG Rey Federal budget appropriations Office (GAO) audit NC n ee Scr ce Ley Oren LN ee een Congyessionaltestinony Steet : 5 5 econ ished minutes ls SU LOU UU beeceell ee SCC] Fn eo r 7 Pe] MUCUS Meee bea a To view all of our Fed Explained videos, visit youtube.com/AtlantaFed.