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主题:【原创】宋鸿兵的新书发布会 -- 棋人鲁大耍

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家园 抱歉,我不该首先指责你,这里再进一步解释一下

美联储的体制设置很容易让人混淆。

The twelve regional Federal Reserve Banks were established as the operating arms of the nation's central banking system. They are organized much like private corporations—possibly leading to some confusion about ownership.

美联储有十二个地区储备银行,这些地区银行体制的设置确实很像私人机构。这十二个地区储备银行的头和美联储的头都是由美国总统提名国会批准。但是:

The Federal Reserve Banks issue shares of stock to member banks. However, owning Federal Reserve Bank stock is quite different from owning stock in a private company. The Federal 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. The stock may not be sold or traded or pledged as security for a loan; dividends are, by law, limited to 6% per year.

The dividends paid to member banks are considered partial compensation for the lack of interest paid on member banks' required reserves held at the Federal Reserve. By law, banks in the United States must maintain fractional reserves, most of which are kept on account at the Federal Reserve. Historically, the Federal Reserve did not pay interest on these funds. The Federal Reserve now has authority, granted by Congress in the Emergency Economic Stabilization Act (EESA) of 2008, to pay interest on these funds.

名义上私人银行拥有美联储股份,像是股份制,但实质上是会员制。各私人银行和金融机构的出资是按美国法律规定的银行保证金,不论出资多少,只有一票。

法律规定美联储是非营利机构,运作中的收益绝大部分必需上交美国政府,只有不超过6%的收益可以给会员银行/机构分红,相当于支付这些银行保证金的利息。

你可以参考这两个网站,对与宋相关的观点有详细的讨论和资料来源。

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