Professional Custom Accounting Papers: Identify three weaknesses of the national banking system that existed before the Federal Reserve System was created.
you should be able to do the following: LO 4.1 Discuss how the Federal Reserve System (Fed) responded to the recent fi nancial
crisis and Great Recession.
LO 4.3 Describe the Federal Reserve System and identify the fi ve major components into which it is organized.
LO 4.4 Identify and describe the policy instruments used by the Fed to carry out monetary policy.
LO 4.5 Discuss the Fed’s supervisory and regulatory functions. LO 4.6 Identify important Fed service functions. LO 4.7 Identify specifi c examples of foreign countries that use central banking systems to
regulate money supply and implement monetary policy.
