The Federal Reserve System

The Fed

The Fed basically controls all the paper currency in the US. They make, restore, and destroy paper money every day. They also regulate out economy by buying and selling securuties from banks. The Fed also supervises banks to make sure that they are in good shape.

There are 12 district banks, and here are the locations:

1) Boston

2) New York

3) Philidephia

4) Clevemond

5) Richmond

6) Atlanta

7) Chicago

8) St Louis

9) Minneapolis

10) Kansas City

11) Dallas

12) San Francisco

Board of Governers

Location and Purpose

The Board of Governers is located in Washingtin, D.C., and is there to vote on decisions about the economy and how to help it.

FOMC

Function and Purpose

The FOMC is in charge of buying and selling US Treasury Securities. They typically meet every 6 weeks to evaluate the course of monetary policy.

Bureau of Engraving and Printing

Responsibility and Facts

The Bureau of Engraving and Printing (BEP) is responsible for making Federal Reserve notes for the Fed and also making other types of government security documents, such as identification cards and naturalizationcertificates.

US Mint

Responsibilty and Facts

The US Mint is in charge of minting coins for the Fed in addition to securing the $100 billion worth of gold and silver. They have six branches were they mint coins. The US Mint also takes in mutilated coins and recycles them.