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Beige Book

a consolidated report of regional economic conditions in each of the 12 Fed Resv districts

Board of Govs

a body made up of 7 individual members AKA Fed Resv Board

Defensive Open Market Ops

ops that offset the impact of other conditions on the level of reserves

Discount Rate

the interest rate charged on Fed district bank loans to depository institutions

Dynamic Open Market Ops

ops implemented to increase or decrease the level of reserves

Fed Funds Rate

interest rate charged by banks on short-term loans to each other

Fed Open Market Committee (FOMC)

a body made up of 7 members of the Board of Govs and president of 5 district banks

Fed Resv District Bank

components of the Fed Resv System
Each bank is allowed to trade govt securities

Reserve Requirement Ratio

the proportion of depository institutions accounts that must be held in reserve

Policy Directive

the document passed from the FOMC to the Trading Desk stating the FOMC's decision on the target supply of money

Repurchase Agreement

the purchase of securities with an agreement to sell them back at a specified date in the near feature

Trading Desk (Open Market Desk)

open market operations are carried out here

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