These … (See E. Brown, “Bailout Bedlam,” webofdebt.com/articles, October 2, 2008.). The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. The list itself doesn’t breakdown ownership by regional Federal Reserve Banks. So I’ve added each list as a PDF file which can be downloaded directly. Pursuant to the federal Freedom of Information Act, 5 U.S.C. The Board of Governors (Board) is publishing a final rule that applies an inflation adjustment to the threshold for total consolidated assets in Regulation I. On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. But there is no need for secret cabals and intricate conspiracy theories based on misdirection and fabrication. This website uses cookies in order to improve your browsing experience. The Fed’s mandate was then and continues to be to keep the private banking system intact; and that means keeping intact the system’s most valuable asset, a monopoly on creating the national money supply. These balances are the namesake reserves of the Federal Reserve System. www.philosophyofmetrics.com Member ID Number Member Bank, Shareholder, and Owner Name. Proceedings of the Seventh Annual Meeting of Stockholders of the Federal Reserve Bank of Boston : Held at … Why is the Treasury issuing U.S. government bonds (or debt) to fund the Fed, which is itself supposedly “the lender of last resort” created to fund the banks and the federal government? Here is how it works: When the government is short of funds, the Treasury issues bonds and delivers them to bond dealers, which auction them off. Web of Debt and Global Research 8 October 2008, The original source of this article is Web of Debt and Global Research. To be a member of the Federal Reserve system, commercial banks must own shares of stock in the 12 regional Federal Reserve banks by law. These are banking institutions, trust funds, shareholders, and owners of each of the twelve regional Federal Reserve banks. Federal Reserve Statistical Release H.8 puts the total “loans and leases in bank credit” as of September 24, 2008 at $7,049 billion. Member ID Number Member Bank, Shareholder, and Owner Name. 2. 3. – JC. FEDERAL RESERVE B A N K O F S T . We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. That means we the taxpayers will be paying interest to the banks on at least $700 billion annually – this so that the banks can retain the reserves to accumulate interest on ten times that sum in loans. GlobalResearch Center for Research on Globalization. The Federal Reserve’s moving interest rates to near zero resulted in one of the most challenging interest rate environments in our 103-year history. No matter how much factual information is presented there are so many which refuse to believe or accept the reality of the human complexity involved in the machinations of the system itself. The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. A long list of banks (but not other corporations) is also now protected from the short selling that can crash the price of other stocks. . Her eleven books include the bestselling Nature’s Pharmacy, co-authored with Dr. Lynne Walker, and Forbidden Medicine. Which is why I suggest that the system is a reflection of the whole of the social trust, as opposed to some nefarious system which is covertly working against the disorganized masses. All of which have been met with the human predisposition for fantasy and misdirection. They can then turn around and put this money into 30-year Treasury bonds at 4.5%, earning an immediate 2.5% from the taxpayers, just by virtue of their position as favored banks. Comment on Global Research Articles on our Facebook page, Disclaimer: The contents of this article are of sole responsibility of the author(s). Unlike the risky derivative debt, federal securities are considered “risk-free” for purposes of determining capital requirements, allowing the banks to improve their capital position so they can make new loans. Readers will observe with a casual review of the lists that the usual suspects are included, such as JP Morgan, Goldman Sachs, etc.. All net earnings after expenses and dividends are paid to the Treasury. In an unprecedented move in March 2008, the New York Fed advanced the funds for JPMorgan Chase Bank to buy investment bank Bear Stearns for pennies on the dollar. . The Federal Reserve System is not "owned" by anyone. copyright owner. The Board of Governors in Washington, D.C., is an agency of the federal government and … For example, Citibank and JPMorgan are shareholders in the Federal Reserve Bank of New York because those banks have their headquarters in the Fed’s Second District, which includes New York. This was covered here on POM recently in the post A Hidden Mystery – The 12+1 Symbolism of the Federal Reserve System. The New York Times stated that the Federal Reserve Banks would be ready for business on August 1, 1914, but they actually began operations on November 16, 1914. The new control rule (Control Rule) expands the relationships that an investor can […] a truly “federal” Federal Reserve could lend the full faith and credit of the United States to state and local governments interest-free, cutting the cost of infrastructure in half, restoring the thriving local economies of earlier decades. This would be one of the most productive methods of rebalancing wealth based on the fairness of open and free capitalism. However, ownership of Federal Reserve Bank stock entitles the shareholder to one vote when voting for its regional Members will receive more detailed analysis on macroeconomic trends and discussions on esoteric philosophy. Source: ** Federal Reserve Directors: A Study of Corporate and Banking Influence ** - - Published 1983. If the Fed can demand AIG’s stock in return for an $85 billion loan to the mega-insurer, we can demand the Fed’s stock in return for the trillion-or-so dollars we’ll be advancing to bail out the private banking system from its follies. The answer is both. But is that true? There is no social division or barrier on human greed and weakness. In another bit of sleight of hand known as “fractional reserve” lending, the same reserves are lent many times over, further expanding the money supply, generating interest for the banks with each loan. Reuters reported on October 3: “The U.S. Federal Reserve gained a key tactical tool from the $700 billion financial rescue package signed into law on Friday that will help it channel funds into parched credit markets. The Federal Reserve system is an imperfect, but rather innovative clearinghouse. Ten percent of that is $700 billion. Federal Reserve Directors: A Study of Corporate and Banking Influence - Published 1983 The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a … An updated members list is also included from the year 2015. However, owning Reserve Bank stock is quite different from owning stock in a private company. Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. None of its stock is owned by the government. Who owns the Federal Reserve, who actually controls it, where does it get its money, and whose interests is it serving? Tucked into the 451-page bill is a provision that lets the Fed pay interest on the reserves banks are required to hold at the central bank.”3. These trust funds can take controlling interests in each of the Federal Reserve Regional Banks. A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. At that time, their total assets were listed at $143,000,000, from the sale of shares in the Federal Reserve Banks to stockholders of the national banks which subscribed to it. Chart 2. A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” … The program will auction Treasury bills to raise cash for the Fed’s use. If the Fed’s money comes ultimately from the taxpayers, that means we the taxpayers are paying interest to the banks on the banks’ own reserves – reserves maintained for their own private profit. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! The purpose of this post is to present some extremely valuable information regarding the member banks, shareholders, and owners of the system. The website of the Federal Reserve Bank of New York explains that as money is redeposited and relent throughout the banking system, this 10% held in “reserve” can be fanned into ten times that sum in loans; that is, $10,000 in reserves becomes $100,000 in loans. 2015 LIST OF FEDERAL RESERVE BANK MEMBERS, SHAREHOLDERS, AND OWNERS Data compiled and presented by Philosophy of Metrics. The only real leverage Congress has over the Fed is that it “can alter its responsibilities by statute.” It is time for Congress to exercise that leverage and make the Federal Reserve a truly federal agency, acting by and for the people through their elected representatives. Help support POM and further research by subscribing. . Vast conspiracy theories have been presented and laborious efforts have been undertaken to expose the actual shareholders and owners of the system. The Federal Reserve Banks differ essentially from privately managed banks in that profits are not the object of their operations, and their stockholders, which are the member banks of the Federal Reserve System, do not have the powers and privileges that customarily belong to stockholders of privately managed corporations." The House of Morgan presided over American finance from the corner of Wall Street and Broad, acting as quasi-US central bank since 1838, when George Peabody founded it in London. These increasingly controversial encroachments on the public purse warrant a closer look at the central banking scheme itself. List of Federal Reserve Member Banks 1914. A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” corporations. The Federal Reserve on Thursday ordered 34 major US banks to suspend share buybacks in the third quarter and limit dividend payments to shareholders. The decision is the first such move since the global financial crisis 12 years ago, and limits how banks can spend their capital amid the coronavirus pandemic that has caused a sharp economic downturn. I’d even dare say that the lists appear more normal and everyday than most would have considered. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. I have included a full list from May 27, 1914, which would be the initial member’s composition when the Federal Reserve Act was passed on Christmas Eve 1913. Federal Reserve Bank of Boston. LIABILITIES AND STOCKHOLDERS… The bonds then become the “reserves” that the banking establishment uses to back its loans. So is the Fed private or public? They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.” – The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s. As most readers will know, the Federal Reserve System is made up of twelve regional districts and banks. While the Board of Governors is an independent government agency, the Federal Reserve Banks are set up like private corporations. The website states: * “The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations – possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. The Federal Reserve (or Fed) has assumed sweeping new powers in the last year. Ben Franklin Financial, Inc. Has Received Stockholder and a Required Federal Reserve Board Approval in Connection with its Proposed Strategic Transaction … As such, avoiding the pit falls of the Federal Reserve conspiracy theories and misinformation is at times a futile effort. § 552, I request access to and copies of a list of all (a) stockholders of and, if there are any differences, (b) member banks and other financial institutions of the Federal Reserve Bank. The fact that the Fed does not get “appropriations” from Congress basically means that it gets its money from Congress without congressional approval, by engaging in “open market operations.”. Ellen Brown, J.D., developed her research skills as an attorney practicing civil litigation in Los Angeles. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The Associated Press reported: “The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs.”2. A smear campaign against McFadden ensued and he was poisoned 3 years later. The purpose of POM has always been to function within well-disciplined research habits and present a factual thesis on the international monetary framework. The Fed periodically reports to Congress, but the Fed doesn’t ask; it tells. Federal funds are the reserve balances (also called Federal Reserve Deposits) that private banks keep at their local Federal Reserve Bank. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend on paid-in capital stock of-- in the case of a stockholder with total consolidated assets of more than $10,000,000,000, the smaller of-- Once armed with factual knowledge the disorganized masses can organize around a social trust which is funded by tax dollars. In Web of Debt, her latest book, she turns those skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. List of Federal Reserve Member Banks 2015. Notre site en Français: mondialisation.ca, This article was first published by Global Research in October 2008, “Some people think that the Federal Reserve Banks are United States Government institutions. A smear campaign against McFadden ensued and he was poisoned 3 years later. Federal Reserve Bank (Reserve Bank) stockholders that have total consolidated assets above the threshold receive a … On January 30, 2020, the Board of Governors of the Federal Reserve System issued a final rule that would update and revise, to some degree, its framework for finding “control” under the Bank Holding Company Act of 1956, as amended (BHC Act). Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. The purpose of keeping funds at a Federal Reserve Bank is to have a mechanism for private banks to lend funds to one another. Over the years there has been much written and discussed surrounding the actual ownership of the Federal Reserve System within the United States. The Fed generates profits for its shareholders. . They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome. The largest shareholders of the Federal Reserve Bank are the Rothschilds of London holding 57% of the stock which is not available for public trading. The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. When the Fed wants to “expand the money supply” (create money), it steps in and buys bonds from these dealers with newly-issued dollars acquired by the Fed for the cost of writing them into an account on a computer screen. It was this money-creating process that prompted Wright Patman, Chairman of the House Banking and Currency Committee in the 1960s, to call the Federal Reserve “a total money-making machine.” He wrote: “When the Federal Reserve writes a check for a government bond it does exactly what any bank does, it creates money, it created money purely and simply by writing a check.”. . www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. Its structure as “independent within government” makes it hard to decipher precisely who owns it. Arming ourselves with factual information on the system and how it actually functions are the beginnings to exacting substantial and purposeful change which could benefit all. The Federal Reserve Banks kept $283 million, and the remaining $231 million was paid to its stockholders as dividends. Become Member of To the Stockholders of the Federal Reserve Bank of St. Louis: There are furnished herein t h e following statements of t h e Federal Reserve Bank of St. Louis, including its Louisville, Memphis, and Little Rock Branches: ( 1 ) Assets, liabilities and capital accounts as of The deal was particularly controversial because Jamie Dimon, CEO of JPMorgan, sits on the board of the New York Fed and participated in the secret weekend negotiations.1 In September 2008, the Federal Reserve did something even more unprecedented, when it bought the world’s largest insurance company. . The Federal Reserve Banks are not operated for the purpose of earning profits for their stockholders. 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