Rather than the Fed pursuing a policy resulting in some steady rate of growth in the money supply, I would suggest that the Fed attempt to produce a steady rate of growth in the sum of the credit it creates and the credit
created by depository institutions, i.e., commercial banks, savings associations and credit unions.
This arrangement should allow each Reserve Bank to better manage its payments system risk and access to the discount
window by a depository institution, providing another example where central banks are helping the private sector manage change.
Total
borrowings by depository institutions from the Federal Reserve (i.e. borrowings at the Discount Rate) actually fell last week to $ 2.421 billion, from $ 3.158 billion the preceding week.
The Registered Mortgage Professional designation is used by Mortgage Loan Originators who are an employee of a depository institution (including credit union) regulated by a federal banking agency (OCC, OTS, FDIC, FRB, NCUA), a subsidiary owned and
controlled by a depository institution and regulated by a federal banking agency, or an institution regulated by the Farm Credit Administration.
According to analysis of FDIC and bank data by New York City - based Real Capital Analytics, the default rate for commercial mortgages
held by depository institutions was at 4.3 percent at the end of the second quarter of 2010 — the highest point since 1992.