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Federal Reserve System
Fed·er·al Re·serve Sys·tem
noun
Definition:
U.S. banking system:
the U.S. banking system that regulates money supply and interest rates, consisting of 12 Federal Reserve Banks that regulate the activities of affiliated banks in their own districts
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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