Federal Reserve System

The Federal Reserve System is an independent central bank which is the monetary authority of the US. The Federal Reserve System was established in the Federal Reserve Act of 1913. It was this act that moved the responsibilities to coin money and set its value to the Federal Reserve. According to the United States Constitution, U.S. Congress had the power and responsibility until this Act.

The Federal Reserve System is governed by the Federal Reserve Board located in Washington, D.C. This system includes 12 Federal Reserve Banks and is authorized to regulate all monetary policy in the US, to supervise Federal Reserve member banks, bank holding companies, international operations of US banks, and US operations of foreign banks.

Athough the President of the United States appoints the chairman of the Fed and this appointment must be approved by the United States Senate, the decisions by the Fed does not have to be ratified by the President, Senate or anyone else in the executive branch of the United States government.

See Federal Reserve
See Federal Reserve Act of 1913
See Federal Reserve Bank
See Federal Reserve Board (FRB)

Federal Reserve Member Regulations

Regulation A
Regulation D
Regulation FD
Regulation G
Regulation M
Regulation Q
Regulation U
Regulation T