| A | B |
|---|
| Board of Governors | a seven-member board that oversees the Federal Reserve SYstem |
| monetary policy | the actions the Federal Reserve takes to influence the level of real GDP and the rate of inflation in the economy |
| Federal Reserve Districts | the twelve banking districts created by the Federal Reserve Act |
| Federal Advisory Council | the research arm of the Federal Reserve |
| Federal Open Market Committee | Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply |
| check clearing | the process by which banks record whose account gives up money and whose account receives money when a customer writes a check |
| bank holding committee | a company that owns more than one bank |
| federal funds rate | interest rates |
| discount rate | rate the Federal Reserve charges for loans to commercial bankss |
| net worth | total assets minus total liabilities |
