XVII. Study the Bank’s following tables, add the data on the Bank of England, and the NBU and state what is different and what is not in their performance.

US Banking System Federal Reserve (Central Bank)   Established in 1913 to promote a healthy economic climate that would deter the spread of individual bank failure to other banks and to assist banks in financial difficulties by providing limited credit facilities. The seven man Board of Gover-nors (appointed by the President of the United States and confirmed by the United States Senate for a period of fourteen years—staggered) Is the heart of the Federal Reserve system. One member of the Board is appointed chairman for a period of four years.	Japanese Banking System Bank of Japan (Central Bank)   Established in October 1882 as the country's central bank. Since Inception, (he only major change in Its statutes was made in 1942 and involved the creation of the governing Policy Board which is the Bank's highest decision-making body. The Policy Board members include the Bank's governor and representatives from the Ministry of Finance, the Economic Planning Agency, private-sector banks, and Industry.	German Banking System Deutschen Bundesbank (Central Bank) Established after World War II as an Independent corpo-ration with the responsibility for serving as Germany's central bank. Governing board is comprised of representatives from banks and industry. The Bundes-bank's central offices are located in Frankfurt, and its branches are located in the states of Germany. The Bundesbank operates in a manner similar to the Federal Reserve Bank of the United States. Its principal relation-ship with other German banking institutions is con-cerned with the activity of lending to German financial institutions.
US Banking System Responsibilities include: - formulating monetary policy and providing tools for its implementation - establishing reserve requirements for all depository institutions - final responsibility for approving or denying changes in the discount rate recommended by the regional banks - responsibility for open market operations - responsibility for all regulatory and supervisory duties assigned to the system by federal legislation	Japanese Banking System Responsibilities are essen-tially the same as the US Federal Reserve Bank and include: - formulating monetary policy and providing tools for its implementation - establishing reserve requirements for all depository institutions - final responsibility for approving or denying changes in the discount rate recommended by the regional banks - responsibility for open market operations - control of commercial bank lending via use of "window guidance" i.e. when credit is tight, the Bank of Japan indicates a framework for increases in lending by city banks and the other major financial institutions to which it lends.	German Banking System Responsibilities are essentially the same as the US Federal Reserve Ban and the Bank of Japan and include: - formulating monetary policy and providing tools for its implementation - establishing reserve requirements for all depository institutions - final responsibility for approving or denying changes in the discount rate recommended by the regional bank - responsibility for open market operations

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