Southwestern Bank and Trust Company is a nationally chartered bank that is subject to the supervision of the Office of the Comptroller of the Currency in addition to the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC). As a new employee of the bank, you have been asked to prepare a research paper that discusses the role of the Federal Reserve Board. Specifically, your research paper will:
• Discuss the major functions of the Federal Reserve Board
• Recognize the role of the FED as the commercial bank of the US Treasury
• Analyze the supervisory and regulatory authority of the FED over the activities of banks in their district
• Explain the FED responsibility in the collection and replacement of damaged currency from circulation
• Describe the FED role in the processing, routing, and transfer of funds from one bank to another
• Explain the Federal Reserve Communication System for wire transfers between the FED and the commercial banks
• Evaluate the role of the FED in conducting research and interpreting economic data
• Evaluate the role of the FED in setting discount rates and the effect of the rate changes on the US Financial System
• Discuss the role of The Office of the Comptroller of Currency, regulation 9, and the impact on trust departments
Present your findings as a 4-5 page Word document formatted in APA style.