Glossary of Municipal Securities Terms

FEDERAL RESERVE BOARD

The Board of Governors of the Federal Reserve System, which is the federal agency responsible for making national monetary policy and supervising and regulating certain banking institutions. In addition, the Federal Reserve Board enforces MSRB rules applicable to the system’s member banks that are municipal securities dealers. Compare: FEDERAL DEPOSIT INSURANCE CORPORATION; OFFICE OF THE COMPTROLLER OF THE CURRENCY.

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