While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only of the regional bank presidents get to vote. The Federal Re ole as a lender of last resort involves lending to financially troubled: Governments in developing countries during currency crises U.S. state governments when they run short on tax revenues U.S. banks that cannot borrow elsewhere Which of the following are functions of the Fed? Check all that apply. Maintaining and circulating currency Compiling the government budget for the fiscal year Collecting personal and corporate income taxes Organizing stock exchange markets Protecting consumers in their dealings with banks Solution Ans.(a) 5 .Five of the regional bank presidents get to vote at the Federal open market Committee Meeting . As amended in year 1942 now there are 12 voting members in Federal open market committee meeting . The seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents. Ans.(b) U.S. Banks that cannot borrow elsewhere . It is federal reserve\'s one of the function to give support to U.S. Banks . Federal reserve have no responsibility towards the other nations. Ans.(c) 1) Maintaining and circulating currency 2) Protecting consumers in their dealings with banks .

1. While all members of the Federal Reserve Board of Governors vote at Federal Open Market
Committee (FOMC) meetings, only of the regional bank presidents get to vote. The Federal Re
ole as a lender of last resort involves lending to financially troubled: Governments in developing
countries during currency crises U.S. state governments when they run short on tax revenues
U.S. banks that cannot borrow elsewhere Which of the following are functions of the Fed?
Check all that apply. Maintaining and circulating currency Compiling the government budget for
the fiscal year Collecting personal and corporate income taxes Organizing stock exchange
markets Protecting consumers in their dealings with banks
Solution
Ans.(a) 5 .Five of the regional bank presidents get to vote at the Federal open market Committee
Meeting . As amended in year 1942 now there are 12 voting members in Federal open market
committee meeting . The seven members of the Federal Reserve Board and five of the twelve
Federal Reserve Bank presidents.
Ans.(b) U.S. Banks that cannot borrow elsewhere .
It is federal reserve's one of the function to give support to U.S. Banks . Federal reserve have no
responsibility towards the other nations.
Ans.(c) 1) Maintaining and circulating currency
2) Protecting consumers in their dealings with banks