|Federal Reserve System
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Definition of Federal Reserve System
Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the federal
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
An international bank headquartered in Basel, Switzerland, which
A wire transfer system for high-value payments operated by the federal reserve system.
Actions taken by the Board of Governors of the federal reserve system to influence the
See federal reserve system.
The twelve district banks in the federal reserve system.
Board of Governors of the federal reserve system.
Schedule of depreciation rates allowed for tax purposes.
A computerized clearing system for sterling funds
An international wire transfer system for high-value
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
Any excess of actual reserves above required reserves.
Securities issued by corporations and agencies created by the U.S. government,
Agencies of the federal government set up to supply credit to various classes of
A federal institution that insures bank deposits.
Federal Financing Bank
A federal institution that lends to a wide array of federal credit agencies funds it
Non-interest bearing deposits held in reserve for depository institutions at their district federal
Federal funds market
The market where banks can borrow or lend reserves, allowing banks temporarily
Federal funds rate
This is the interest rate that banks with excess reserves at a federal reserve district bank
Federal Home Loan Banks
The institutions that regulate and lend to savings and loan associations. The
Federally related institutions
Arms of the federal government that are exempt from SEC registration and
Freddie Mac (Federal Home Loan Mortgage Corporation)
A Congressionally chartered corporation that
Excess reserves minus member bank borrowings at the Fed.
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
A technical trading strategy that combines mechanical rules, such as the CRISMA
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
Holdings of gold and foreign currencies by official monetary institutions.
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
The dollar amounts based on reserve ratios that banks are required to keep on deposit at a federal reserve Bank.
An accounting entry that properly reflects the contingent liabilities.
A foreign currency held by a central bank or monetary authority for the purposes of
Specified percentages of deposits, established by the federal reserve Board, that banks must
The percentage of different types of deposits that member banks are required to hold
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
Perpetual inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
actual cost system
a valuation method that uses actual direct
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
a system using transfer prices; see transfer
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
enterprise resource planning (ERP) system
a packaged software program that allows a company to
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
hybrid costing system
a costing system combining characteristics
job order costing system
a system of product costing used
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
normal cost system
a valuation method that uses actual
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a production system dictated by product sales
the traditional production system in which
an inventory ordering system in which a red
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
standard cost system
a valuation method that uses predetermined
an inventory ordering system in which two
Du Pont system
A breakdown of ROE and ROA into component ratios.
Federal Reserve (the Fed)
The central bank in the United States, responsible for setting interest rates.
system whereby customers send payments to a post office box and a local bank collects and processes checks.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
reserves of commercial banks in excess of those they are legally required to hold.
Federal Funds Rate
The interest rate at which banks lend deposits at the federal reserve to one another overnight.
Federal Open Market Committee (FOMC)
Fed committee that makes decisions about open-market operations.
Foreign Exchange Reserves
A fund containing the central bank's holdings of foreign currency or claims thereon.
Fractional Reserve Banking
A banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank.
See foreign exchange reserves.
Legal Reserve Requirement
See reserve requirement.
See market mechanism.
reserves that the central bank requires commercial banks to hold.
A currency, frequently the U.S. dollar, that is used by other countries to denominate the assets they hold as international reserves.
See reserve requirement.
Fraction of total deposits that a commercial bank is required by the central bank to hold in the form of reserves.
Commercial banks' reserves consist of their holdings of cash and their balances in deposits with the central bank. See also foreign exchange reserves, excess reserves, required reserves, reserve requirement.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Federal Employer Identification Number
A unique identification number issued
Federal Insurance Contributions Act of 1935 (FICA)
A federal Act authorizing the government to collect Social Security and Medicare payroll taxes.
Federal Unemployment Tax Act (FUTA)
A federal Act requiring employers to pay a tax on the wages paid to their employees, which is then used to create a
This calculation is used by states to determine the unemployment contribution rate to charge employers. The ongoing balance of a firmâ€™s unclaimed
Cookie Jar Reserves
An overly aggressive accrual of operating expenses and the creation of
Automated storage/retrieval system
A racking system using automated systems
Enterprise resource planning system
A computer system used to manage all company
A materials flow concept in which parts are only withdrawn after a
A materials flow concept in which parts are issued based on planned
Material that has been reserved for a specific purpose.
A system in which parts are reordered when their supply in one
Visual review system
Inventory reordering based on a visual inspection of on-hand
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