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The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States.
The Federal Reserve System is the third central banking system in United States history. The First Bank of the United States (1791–1811) and the Second Bank of the United States (1817–1836) each had a 20-year charter.
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913.
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States.
Apr 25, 2024 · Federal Reserve System, central banking authority of the United States. It acts as a fiscal agent for the U.S. government, is custodian of the reserve accounts of commercial banks, makes loans to commercial banks, and oversees the supply of currency, including coin, in coordination with the U.S.
The Structure of the Federal Reserve System is unique among central banks in the world, with both public and private aspects. It is described as "independent within the government" rather than "independent of government". The Federal Reserve is composed of five parts:
Jan 25, 2024 · The Bottom Line. The Federal Reserve System is the central banking system of the United States. The Fed uses the system and the tools it has to set interest rates and regulate the money supply...
