Provide and maintain an effective system for payments and transactions.
<u>Explanation:</u>
These functions are of utmost importance to maintain the growing economy of the nation. Firstly, they have to ensure maximum employment in the country and stable rates with moderate long term rates of interest.
By regulating the bank operations, they are protecting the consumers' credit rights and strengthening the US security. They provide services to foreign official institutions as well. They also supervise the other reserve banks and branches of the same.
The publication of the Pentagon Papers showed the American public that they had never been informed of the full story on the Gulf of Tonkin incident of 1964.
