【正文】
. Their appointments are made by the President of the United States, and confirmed by the Senate. Members are appointed for terms of 14 years. ? the 12 Reserve Banks each of the 12 Federal Reserve Banks serves a district and each has 9 directors. Three of them are class A directors, who may be bankers, three are class B, who must be actively engaged in the district in Commerce agriculture, or some other industries, three are class C, who are designated by the Board of Governors of the Federal Reserve System. ? the member banks (14,537) ――― prise National banks(國民銀行 ) and State banks (州注冊(cè)銀行 ) ? Three major benefits accrue to mercial banks through their membership in the FED: ? 1. check clearance ? 2. electronic fund transfer ? ability: ? borrowing ability: ? discount rate decreases banks borrow more money supply increases interest rate decreases stock price increases Language Points(語言點(diǎn)) : ? 1. accrue (to) 增長 ? knowledge will accrue to you from reading. 讀書能增加知識(shí)。 ? Interest accrues to a man from loan. 提供貸款則利息自生。 ? 2. boost 推進(jìn),往上推,增加,提高 ? to boost price 提高價(jià)格 We need to boost our spirits. 我們要鼓舞士氣。 ? 3. transfer account transfer 轉(zhuǎn)賬賬戶 bank transfer 銀行轉(zhuǎn)賬 ? transfer of title 產(chǎn)權(quán)轉(zhuǎn)讓 transfer of ownership 所有權(quán)轉(zhuǎn)讓 ? intrapany transfer 公司內(nèi)部轉(zhuǎn)讓 letter transfer 信匯 Language Points(語言點(diǎn)) : ? 4. expedite v. 加速 , 派出 Please do what you can to expedite the building ? 5. access (to) 使用 … 的機(jī)會(huì),權(quán)利 ? Students must have access to a good library. 學(xué)生有權(quán)利使用好圖書館 ? 6. the Federal Reserve System = FED 聯(lián)邦儲(chǔ)備系統(tǒng) ? electronic fund transfer 電子資金劃撥 check clearance 支票交換 ? wire transfer service 電告資金劃撥服務(wù) discount window 貼現(xiàn)窗口 ? stock market watchers 證券市場(chǎng)監(jiān)督員 last resort 最后貸款 ? credit availability 信用,可發(fā)放的貸款 Exercises and Key to exercises ? (1) 1. 聯(lián)邦儲(chǔ)備系統(tǒng) Federal Reserve System 2. 電子資金劃撥 electronic fund transfer 3. 支票清算 check clearance 4. 準(zhǔn)備金賬戶 reserve account 5. 收款系統(tǒng) collection system 服務(wù) wire transfer service 7. 貼現(xiàn)窗口 discount window 8. 證券市場(chǎng)監(jiān)督員 stock market watcher 9. 緊急基金 emergency funds 10. 最后貸款 last resort ? (2) BDABC ? (3) Question: what are the differences between the central bank system