Federal Reserve Board

The functions of the board include formulating and executing monetary policy, overseeing the Federal Reserve Banks, and regulating and supervising member banks. Monetary policy is implemented through the purchase or sale of securities, and by raising or lowering the discount rate-the interest rate at which banks borrow from the Federal Reserve. A board of Directors comprised of seven members which directs the federal banking system, is appointed by the President of the United States and confirmed by the Senate. The CENTER ONLINE Futures Glossary

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( FRB)

The seven-member governing body of the Federal Reserve System, which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions. Bloomberg Financial Dictionary

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Federal Reserve Board ˌFederal ˈReserve ˌBoard abbreviation FRB noun ORGANIZATIONS BANKING

the management board of the Federal Reserve System, whose seven members are chosen by the US president. It decides the Policies of the Federal Reserve System:

• With the Federal Reserve Board's latest discount rate cut, mortgage rates have been driven to their lowest level in nearly 20 years.

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   This board runs the Federal Reserve System, which controls US monetary policy and oversees the banking industry. Its seven governors are appointed for 14-year terms by the US president (with Senate approval), but each chairman's term is only four years, thereby allowing each president the possibility of influencing the choice of chairman. The FOMC, a sub-committee of the board, sets US interest rates.

   ► See also Federal Reserve System, FOMC.