The seven-member managing body of the Federal Reserve System, commonly called the Federal Reserve Board, which sets policy on banking regulations and the money supply.
Check kiting is an illegal scheme that occurs when individuals establish a false line of credit by exploiting the delay in the check clearing process between different banks.
Mandatory Liquid Assets (MLA) are specific financial reserves and assets that regulatory authorities require banks and financial institutions to maintain to ensure liquidity and financial stability.
A Member Bank is a financial institution that is part of the Federal Reserve System, including all nationally chartered banks and state-chartered banks that meet certain standards and are accepted for membership.
