Federal Reserve Bank

Definition:

One of the 12 member banks constituting the Federal Reserve System that is responsible for overseeing the commercial and savings banks of its region to ensure their compliance with regulation.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Exchange privilege

A mutual fund shareholder's right to switch from one fund to another within one fund family, usually at no additional charge.

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