9.1+Outline

=The Federal Reserve provides banking and fical servies to the government= =provides banking servicesto member and nonmember banks= =regulates the banking industry= =tracks and manages the national money supply= =Check Clearing is the process by which banks record whose account gives up money and whose account receives money when a customer writes a check= =A bank holding company is a company that owns more than one bank= =The interest rate that banks chare each other for these loans is the federal funds rate= =The rate the Federal Reserve charges for the loans is called a discount rate= =Net worth equals total assets minus total liabilities=