summarize chapter 3 of the Financial Management text book in at least 400 words.
give your best description of what money is.
write a brief summary of what “Crypto Currency” is.
Who is the treasury secretary of the United States?
What is the current interest rate for mortgages in the United States?
CHAPTER 3 – Financial Institutions and the Cost of Money
Businesses make their investment and financing decisions in a dynamic financial environment. Financial managers must understand the econ- omy, the role of government in the economy, and the markets in which financial institutions operate. We have already taken a look at the finan- cial markets in Chapter 2. Now we focus on other aspects of the financial environment. In particular, we examine the role of the following:
The Federal Reserve District Banks are not-for-profit institutions. Their responsibilities include (1) handling the vast majority of check- clearing in the United States, (2) issuing money, and (3) acting as the bankers’ bank, accepting deposits from other financial institutions
The Federal Reserve System consists of the Federal Reserve Banks and member commercial banks. All nationally chartered banks must join the system, but state-chartered banks may also join. A nationally char- tered bank is a bank that receives its charter of incorporation (its right to do business) from the federal government, granted by the Comptroller of the Currency; a state-chartered bank receives its charter from the state. The Comptroller of the Currency is a division of the U.S. Treasury and was established in 1863. The role of the Comptroller is to monitor peri- odically banks’ financial condition and compliance with regulations; states have similar agencies that monitor state-chartered banks. Because national banks represent the largest banking institutions in the United States, more than two-thirds of all bank assets are held by national banks.
The Federal Open Market Committee (FOMC) is a policy making group within the Federal Reserve System. The committee is comprised of
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