What Is The Basic Structure Of The Federal Reserve Bank

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The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.

Structure of the Bank

A network of 12 Federal Reserve Banks and 24 branches make up the Federal Reserve System under the general oversight of the Board of Governors. Reserve Banks are the operating arms of the central bank.

Each of the 12 Reserve Banks serves its region of the country, and all but three have other offices within their Districts to help provide services to depository institutions and the public.

The Banks are named after the locations of their headquarters - Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco.

Member Banks
Approximately 38 percent of the 8,039 commercial banks in the United States are members of the Federal Reserve System.

National banks must be members; state-chartered banks may join if they meet certain requirements.

Advisory Councils
Three statutory advisory councils - the Federal Advisory Council, the Consumer Advisory Council, and the Thrift Institutions Advisory Council - advise the Board on matters of current interest. These councils, whose members are drawn from each of the 12 Federal Reserve Districts, meet two to four times a year.


Basic Structure of the Federal Reserve Bank






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