One of the mysteries of the English language finally explained.
1(in the US) a regional bank operating under and implementing the policies of the Federal Reserve.
- ‘The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over.’
- ‘The old semiautonomous nature of the reserve banks, like the semiautonomous nature of the individual states, fell increasingly under the leaden authority of the federal government.’
- ‘United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.’
- ‘The Banking Act of 1933 reorganized and strengthened the central Board of Governors, who were given control over interest rates, reserve requirements, and all activities of the twelve federal reserve banks.’
- ‘The former chairman of the American federal reserve bank is leading an inquiry for the UN but he will not be saying anything until January at the earliest.’
2Australian NZ South African A central bank.
- ‘With recent statistics pointing to uncertainty on the domestic front and the G8 leaders casting doubt on the global front, the next few months will require a careful balancing act by the reserve bank.’
- ‘Yet the Herald reported that the reserve bank is lifting the official cash rate 0.25% to curb inflation.’
- ‘The reserve bank is indeed doing a wonderful job.’
- ‘The Australian market ended slightly higher today with investors cautious before tomorrow's reserve bank board meeting.’
- ‘Analysts say that should keep inflation within the reserve bank's target of 2 to 3 per cent.’
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