Question

What are the main advantages of being a member of the Federal Reserve System?

Answer 1

Adavntages for the members of Federal Reserve System:

To rediscount eligible paper with the Federal Reserve Bank at its published rate

To receive advances from the Federal Reserve Bank, for periods not exceeding fifteen days

To obtain currency and coin, as needed, from the Federal Reserve Bank

To participate in the check clearing facilities of the Federal Reserve System

To participate in the collection facilities of the Federal Reserve System

To use the Federal Reserve Bank for the transfer of funds

To deposit U. S. Government securities with the Federal Reserve Bank for safekeeping, without charge

To receive certain forms from the Federal Reserve Bank, without charge

To receive reports on agricultural, industrial, commercial and financial conditions, without charge

To discontinue or consolidate balances with correspondents

To operate with less reserve

To receive deposits of postal savings funds

To benefit by additional supervision

To benefit by the prestige afforded by membership in the System