Oditor, No. 07/2014
LEGAL ASPECTS OF FEDERAL RESERVES IN THE UNITED STATES OF AMERICA
prof. dr Milan Rstić
The Federal Reserve System (The Fed) is the central banking system of the United States. The primary motivation for creating the Federal Reserve System was to address banking panics. Before the founding of the Federal Reserve, the United States tended to undergo a financial crisis every decade or so. Today the Fed has broader responsibilities than only ensuring the stability of the financial system.
Key words: FED, banking system, financial system, stability of the financial system.
PhD Milan Rstić, University for Bussines study, Banja Luka, BiH.