May 7, 2008
The Federal Reserve liquidity programs
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide to enhance the safety of the monetary and financial system.
The Federal Reserve’s responsibilities include:
- Overseeing the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
- Supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers
- Maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
- Providing financial services to depository institutions, the US government, and foreign official institutions, including a major role in operating the nation’s payments system
