2CHAPTER 4 OVERVIEWThis chapter will:A.Identify the key components of the FedB.Describe how the Fed influences monetary policyC.Explain how monetary policy is used in other countries
3A. Organization of the Fed1. Federal Reserve District Banksa. 12 national districtsb. New York is considered most importantc. Member banks must purchase stock d.Each district has 9 directorse.District banks:1.) clear checks2.) replace old currency3.) provide loans to member banks
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4A. Organization of the Fed2. Member Banksa. Required of all nationally chartered banksb. At present, about 35% of all banks are member banksc.Member banks hold about 70% of all bank deposits in the U.S. economyy