The structure and the role of the Federal Reserve Bank Term Paper

The structure and the role of the Federal Reserve Bank - Term Paper Example These banks are located in different cities of the United States of America, which include New York, Richmond, Philadelphia, Boston, Cleveland, Atlanta, Chicago, Dallas, St. Louis, Kansas City, Minneapolis, and San Francisco. â€Å"These branch banks retain reserves of currency, and each bank has its own President and board† (Smith, n.d.). The Board of Governors has also established 25 branches of the 12 Federal Reserve Banks in order to support the business activities of the Federal Reserve Banks. For each bank, there is a nine-member board of directors, which manages and controls the business activities of the Federal Reserve Bank. The members of the boards serve their respective banks for the period of three years. The Board of Federal Reserve selects three members of each board, also known as the Directors, whereas remaining six members are selected by the local member banks working in their respective districts. The members of each board are divided into three classes which are A, B, and C. Class C directors are selected by the board of governors whereas class A and Class B directors are selected by the commercial banks (Smale, 2005). The Board of Governors is the most powerful part of the Federal Reserve System. The board of Governors consists of seven members of the board and a chairperson. The President appoints the members of the board for a period of fourteen years whereas the chairperson serves a four-year contract. The Federal Open Market Committee is the third subgroup of the Federal Reserve System. It is a 12-members committee, which includes four presidents of the regional Federal Reserve Banks, the President of the New York Federal Reserve Bank, and the seven members of the Board of Governors. The basic role of the Federal Open Market Committee is to make the decisions regarding changes in the

Visions for ethical, caring nursing care Essay Example | Topics and Well Written Essays - 250 words

Visions for ethical, caring nursing care - Essay Example ces( Nursing Administration Quarterly Jan-Mar; 3-(1): 48-55) discusses the relationship that exists between economics, caring and administrative practices, and what is missing in this currently. The author asserts that a professional ethos is required so that health institutions are well managed. Therefore, health practice should be ethics based. The aforementioned articles illustrate similar concepts that are well illustrated by various ethical theories; utilitarianism, deontology and virtue theory. The utilitarianism theory requires that we are able to know consequences of our actions before performing these actions. Therefore, when performing tasks, it is important to go for those that are ethically correct. This theory when injected into health practice will ensure that only those actions that are ethically correct are done by nurses and other health care practitioners (Melden 2008, p12). The Deontological theory asserts that people are required to perform their duties and obligations when faced with ethical dilemmas. This theory when applied in nursing practice ensures that health care experts will always perform their obligations for the benefit of customers. The virtue theory is different from the other theories in that there is no emphasis on ethical rules, but instead the emphasis is on teaching people virtues like kindness, generosity and courtesy. Therefore, this theory ensures that health care mangers teach their employees virtues that would improve nursing practice (Melden 2008,