UK Accounting Glossary
The Federal Reserve Bank is a federal entity that performs the operations of a central bank.
Along with twelve other branches located across the United States, the Federal Reserve Bank makes up the Federal Reserve System. The Federal Reserve Bank branches can be found in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. The main functions of the Federal Reserve Bank are to provide for adequate currency availability, as well as surveying commercial and savings banks in given regions. The Federal Reserve Bank ensures that banks and various other financial institutions comply with Federal Reserve Board regulations. Additionally, the Federal Reserve Bank operates the “discount window”, which provides access to emergency funds. Another important role of the Federal Reserve Bank and other district banks is to conduct economic and market research.
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This glossary post was last updated: 9th February 2020.