On the liability side, there are also two major figures: Demand deposits held by the commercial Banks, which constitute the reserves of those Banks; and Federal reserve Notes, cash emitted by the Fed.

在美联储资产负债表的负债表一栏里有两个主要组成部分：商业银行持有的活期存款，也即它们的准备金；和联邦储备券，即由美联储发行的现金。

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We've centralized the note issue in the United States starting in 1913 with the Federal Reserve Board so your notes that you see are called Federal Reserve Notes.

我们在1913年通过联邦储备金监察小组,集中了美国发行的钞票,所以你看到的钞票,叫做联邦储备券。

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The possibility ought to concern you if you have any Federal Reserve notes in your wallet.

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In World War I and World War II, it strongarmed the Fed to print Federal Reserve Notes.

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Federal Reserve notes are fiat currency, Grant keeps reminding us.

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