1. What are the main assets and liabilities of the Fed?

2. In-what ways is the Fed act as the government's bank?

3. What is the rationale for the Fed's role as a bankifor private banks?

4. Why does the Fed play a supervisory role in the U.S. payment system?

5. In what ways do payment-system risks span national borders, and how do central banks seek to contain these risks?