The U.S financial system.docVIP

Tian Fu College of Southwest University of Finance and Economics Course Title: Macro-Economics (Semester 1 Year 2) Assignment Title: The U.S. financial system By Group No.:Three Your Name LiangyuntaoLijinLiruiqiJiangchenyang 13th Nov. 2013 Contents Abstract 1 1.The U.S. financial system structure 2 1.1The federal reserve banking system 2 1.2The commercial banking system 3 1.3Non-bank financial institutions 4 1.3.1Risk-pooling institutions 4 1.3.2Contractual savings institutions 4 1.3.3Market makers 5 1.3.4Specialized sectoral financiers 5 1.3.5Financial service providers 6 2.How The U.S Financial System Works 6 summarize 10 3.The challenge of the financial system in the U.S 10 3.1introduce 10 3.2Housing Bubble 11 3.3Historically Low Interest Rates 11 3.4The Bubble Bursts 12 3.5Government and Federal Regulatory Policies 12 3.6Mortgage Meltdown Inflicts Collateral Damage 13 MBA’s Doug Duncan stated that 14 Conclusion 15 Abstract Americas financial system is the worlds largest and the most perfect financial system, it occupies the extremely important status in the United States, Americas financial system directly created a year output value accounts for about 1/5 of Americas gross national product (GNP). Because the U.S. economy scale is very large, so its impact on the global strength is very large, as long as Mr Greenspan announced a cut, Im afraid its not only a country the United States. Key words : financial system , GNP 1.The U.S. financial system structure 1.1The federal reserve banking system The?Federal Reserve System?(also known as the?Federal Reserve, and informally as the?Fed) is thecentral banking?system of the United States. It was created on December 23, 1913, with the enactment of the?Federal Reserve Act, largely in response to a series of?financial panics, particularly a severepanic in 1907. Over time, the roles and responsibilities of the Federal Reserve Syste