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Federal Reserve Bank   /fˈɛdərəl rɪzˈərv bæŋk/   Listen
Federal Reserve Bank

noun
1.
One of 12 regional banks that monitor and act as depositories for banks in their region.  Synonym: reserve bank.





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"Federal reserve bank" Quotes from Famous Books



... may organize a national bank. A national bank may issue its notes—that is, its promises to pay—as currency, to an amount not exceeding the amount of United States bonds deposited by the bank with the national government. Each federal reserve bank is a large central bank organized by the banks of a certain district. It issues notes as currency, secured ...
— Elements of Civil Government • Alexander L. Peterman


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