Which banks own or constitute the Federal Reserve Bank? What about The Bank of England?

Question

I am not asking what it does, I am asking WHO or WHICH BANKS OWN or CONSTITUTE these "Federal Institutions."

Answer 1

The Federal Reserve System is organized with a government agency at the top (the Board of Governors), and branches beneath them that resemble private corporations. (http://www.federalreserveeducation.org/fed101/structure/ )

The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level. Board members are forbidden by law to have any economic interest in a private bank.

The 12 branches, however, are organized similar to private corporations. Member banks are required to buy shares in their branch. They can vote for 6 of their 9 board members. The shares get a standard 6% dividend. These shares cannot be sold on the open market. All 'profit' from the Federal Reserve branches are turned over to the Treasury at the end of the year. Is this private ownership? It is the subject of much debate but most authoritative sources say No it is not private ownership. Here is the Feds response: http://www.federalreserve.gov/generalinfo/faq/faqfrbanks.htm#6 )

To figure out what banks own shares in branches: the shares they own are in direct relation to their holdings. So the bigger banks own the biggest shares.

Answer 2

It's status is unusual. It is "owned" by member banks in the US -- they must own shares in the Federal Reserve to be part of the US Federal banking system. And they receive dividends. But that's a weird kind of ownership. They do not actually have private control, they can't just trade the stock, and the Federal Reserve certainly cannot be bought out by some acquirer.

Meanwhile the Fed Reserve operates as a part of the government. It was created by Congress and is accountable to Congress. It could be eliminated tomorrow by another act of Congress. The Fed Chairman is nominated by the president and approved by Congress.

So it is called "quasi-governmental". In reality it is simply a part of the government that is given a certain amount of independence and set up with an unusual structure in order to interact with private banks in the US and control the US money supply.

OH, and it has NOTHING TO DO WITH ENGLAND.

Answer 3

I think this http://www.federalreserve.gov/otherfrb.htm gives you the information you are after. The Bank of England is not part of the Federal Reserve Bank. The Bank of England is a bank in its own right in London

Answer 4

You answered your own question, "federal institutions".

It is the governement that owns it. No private banks own
the federal reserve, Bank of England, Bank of Canada, etc.

These central banks are allowed to operate quite independently of whichever party is in power in the country. At least in theory. In
this way it is quite different from how most federal institutions operate.

Answer 5

the federal reserve bank is the national banking system of the USA. try typing Federal Reserve System into your search engine to get all the details from wikipeda

Answer 6

because the Fed isn't inner most (it really is self sufficient--it truly is diverse) your question would not make experience. You your self admit that it grow to be created via an act of Congress. clarify how something created via Congress, that should be dissolved via Congress, that has a board appointed via the President and shown via the Senate is one way or the different "inner most"--are you able to hit upon even one inner most corporation the position it truly is authentic? because it grow to be created via regulation, please educate the position contained in the regulation it says that it really is inner most.

Answer 7

watch the documentary 'freedom to fascism', you can see it free on google video.

The federal reserve is not federal. It has nothing to do with the government. IT IS A PRIVATE BUSINESS. Don't believe me, watch the documantary. It has blown all my pre existing notions away. No, i dont believe everything i see.