By Drew Turner and Shane Mullens
About the Feds
The Federal is a privately owned banking system. It is not a government agency. The Federal Reserve is owned by 12 regional Federal Reserve banks. The type of banks apart of the Federal Reserve are regional banks, comercial banks, foreign. The Federal government in 1913. Places where the 12 Federal Banks are located: Boston, New York, Philadephia, Cleveland, Richmond, Atlanta, Chicago, Saint Louis, Minneapolis, Kansas City, Dallas, And San Francisco.
United States Federal Reserve System
The Eccles in Washington, DC
The 12 Districts
Functions of the Federal Reserve
- The Fed supervisises the nation's banking system to protect the customers.
- Acts as an agent for Federal Government by holding a checking a checking account for the U.S. Treasury
- Regulates the Monetary Policy by using tight money and loose money.
- Participates in Open Market operations by buying and selling government services.
- Sets lending standards for consumer legistlation dealing with lending and credit.
- Supplies currency along with the Bureau of Printing and Engraving as well as the U.S. Mint