Southwestern Bank and Trust Company is a nationally chartered bank that is subject to the supervision of the Office of the Comptroller of the Currency in addition to the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). As a new employee of the bank, you have been asked to prepare a research paper that discusses the role of the Federal Reserve Board. Specifically, your research paper will:
Show the major functions of the Federal Reserve Board
Recognize the role of the FED as the commercial bank of the US Treasury
Analyze the supervisory and regulatory authority of the FED over the activities of banks in their district
Describe the FED responsibility in the collection and replacement of damaged currency from circulation
Explain the FED role in the processing, routing, and transfer of funds from one bank to another
Describe the Federal Reserve Communication System for wire transfers