Federal_Reserve_Bank

Federal Reserve Bank Like most industrialized nations, the United States has a central bank to meet certain needs of its complex economy and financial system. Unlike most central banks, however, the United States' Federal Reserve System is, in a sense, a "decentralized" central bank. It consists of 12 regional Federal Reserve Banks and their branches operating under the Board of Governors of the Federal Reserve System in Washington, DC. Established in December 1913 by the Federal Reserve Act, the Federal Reserve System was designed to rectify the conditions underlying the recurrent money panics that had plagued the country for many years. The act has been amended several times to further the Federal Reserve System's ability to foster a sound financial system and a healthy economy. The Federal Reserve System advances this goal through several means. Its monetary policy decisions affect the flow of money and credit in the economy. It contributes to the safety and soundness of the national financial system by establishing regulations and acting as a commercial bank supervisor. And, by serving as a bank for depository institutions and the federal government, the Fed reserve, federal, banks, institutions, system, depository, policy, bank, board, services, governors, monetary, financial, discount, government, economic, credit, securities, money, directors, banks', rate, market, treasury, operations, cash, president, open, fed, commercial, checks, account, through, funds, decisions, banking, treasury's, transfers, terms, requirements, regulations, needs, members, loans, institutions', held, within, window, transactions