2015年6月大学英语六级预测试题

　　Passage 2

　　Questions 26 to 30 are based on the following passage:

　　Federal Reserve System, central banking system of the United States, popularly called the Fed. A central bank serves as the banker to both the banking community and the government; it also issues the national currency, conducts monetary policy, and plays a major role in supervision and regulation of banks and bank holding companies. In the U.S. these functions are the responsibilities of key　officials of the Federal Reserve System: the Board of Governors, located in Washington, D.C., and the top officers of the 12 district Federal Reserve banks, located throughout the nation. The Fed’s actions, described below, generally have　a significant effect on the U.S. interest rates and, subsequently, on stock,

　　bond, and other financial markets.

　　The Federal Reserve’s basic powers are concentrated in the Board of Governors, which is paramount in all policy issues concerning bank regulation and supervision and in most aspects of monetary control. The board enunciates the Fed’s policies on both monetary and banking matters. Because the board is not an operating agency, most of the day-to-day implementation of policies decisions is left to the district Federal Reserve banks, stock in which is owned by the commercial banks that are members of the Federal Reserve System. Ownership in this insance, however, does not imply control; the Board of Governors and the heads of　the Reserve banks orient their policies to the public interest rather than to the benefit of the private banking system.

　　The U.S. banking system’s regulatory apparatus is complex; the authority of the Federal Reserve is shared in some instances for example, in mergers or the examination of banks with other federal agencies such as the Comptroller of the Currency and the Federal Deposit Insurance Cooperation (FDIC). In the critical　area of regulating the nation’s money supply in accordance with national economic goals, however, the Federal Reserve is independent within the government. In　come and expenditures of the Federal Reserve banks and of the Board of Governors　are not subject to the congressional appropriation process; the Federal

　　Reserve　is subject to the congressional appropriation process; the Federal Reserve is self-financing. Its income($20.2 billion in 1992) comes mainly from Reserve bank　holdings of income-earning securities, primarily those of the U.S. government. Outlays ($1.5 billion in 1992) are mostly for operational expenses in providing services to the government and for expenditures connected with regulation and monetary policy. In 1992 the Federal Reserve returned $16.8 billion in earnings to　the U.S. Treasury.

　　26.The Fed of the United States____.

　　A) functions as China Bank 

　　B) is the counterpart of People’s Bank of China

　　C) is subject to the banking community and government

　　D) has 13 top officers who can influence the American financial market

　　27.The fact that stock in the Fed belongs to commercial banks____.

　　A) doesn’t mean the latter is in control 

　　B) means the latter is in control

　　C) means the latter is subjected to the Reserve banks 

　　D) means the Reserve banks orient the latter’s policies

　　28.Which of the following statements is NOT true according to the passage?

　　A) The Fed is a very big, complex and significant system which comprises many local banks.

　　B) All the commercial banks are not the components of Federal Reserve System.

　　C) Board of Governors is the supreme policy-makers of Federal Reserve System.

　　D) District Reserve banks rather than Board of Governors perform the daytoday policies.

　　29.The authority of the Federal Reserve____.

　　A) has to be shared with other establishmentsis

　　B) is exclusive at other times

　　C) isn’t limited by comptroller of the Currency and FDIC

　　D) is limited by Board of Governors

　　30.Income of the Board of Governors____.

　　A) is borrowed from the U.S. Treasury

　　B) is used by the government to make various policies

　　C) comes from the U.S. Treasury

　　D) is not granted by the government