Federal Reserve System
Agency Information
History
- Established in 1913 by the Federal Reserve Act (12 USC 221, et seq.)
- Board of Governors consists of seven members appointed by the President for 14 year terms
- Federal Reserve System includes the Board of Governors, 12 regional federal reserve banks, and member banks
Functions
- Determines economic and monetary policy for the United States
- Examines all national banks, state chartered member banks, and bank holding companies
- Sets reserve requirements for all national banks, state chartered member banks, insured non-FRS (Federal Reserve System) member banks, and uninsured banks
- Controls all aspects of bank holding companies for national banks, state member banks, insured non-FRS member banks, and uninsured banks
- Admits state member banks to Federal Reserve System membership
- Admits state member banks to FDIC
- Authorizes mergers and branches for national banks and state member banks
- Supervises and coordinates the operation of the FRS
- Supervises international operations of state member banks and bank holding companies
- Supervises operation of foreign banks in the U.S.
Regulations
Agency Documents
- Beige Book
- Federal Reserve web site (1996- )
- Board Interpretations
- Federal Reserve web site (1996- )
- Federal Reserve Regulatory Service Law Looseleaf Collection KF 6218 B63
- Enforcement Actions
- Federal Reserve web site (1996- )
- Federal Reserve Bulletin
- Federal Reserve web site (1997- )
- Law Annex HG 2563 F4
- Westlaw: FFIN-FRB
- LexisNexis: BANKNG;FEDRB
- Interpretive Letters
- Federal Reserve web site (1996- )
- Federal Banking Law Reporter Law Looseleaf KF 971.5 F43
- Westlaw: FFIN-FRBIL
- LexisNexis: BANKNG;FEDIL
- Official Board Staff Legal Interpretations
- Federal Reserve web site (1996- )
- Federal Reserve Bulletin
- Code of Federal Regulations
- Law Pappas, Range 4
- Federal Reserve web site (Federal Reserve sections only)
- GPO Access
- Westlaw: CFR
- LexisNexis: ADMIN; CFR
- Federal Register
- Law Pappas, Range 4
- GPO Access (1994- )
- Westlaw: FR
- LexisNexis: BANKING; FEDREG
- Orders
- Federal Reserve Bulletin
- Westlaw: FRB
- LexisNexis: BANKNG;FEDORD
- Federal Reserve web site:
- Statistical Releases and Historical Data
- Reports and Statements to Congress
- Federal Reserve web site (dates vary)
- Federal Reserve Bulletin
- Staff Opinions
- Law of Financial Services (current through 1994 only) Law Looseleaf Collection KF 974 P58 Vol. 5
- Federal Reserve Regulatory Service Law Looseleaf Collection KF 6218 B63
- Staff Working Papers
- Supervision Manuals
Page maintained by David Bachman
Last updated: October 2007