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The Federal Reserve System
is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today, the Federal Reserve's duties fall into four general areas:
- conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
- supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers
- maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
- providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
Federal Reserve System Official Website Links
Federal Reserve System
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest.
Supervision & Regulation
Includes links to regulatory resources, institution supervision, stress tests and capital planning, banking applications & legal developments, banking data & structures, reporting information, and more.
The Federal Reserve supervises the following entities and has the statutory authority to take formal enforcement actions against them: State member banks; Bank holding companies; Savings and loan holding companies; Nonbank subsidiaries of bank holding companies and of savings and loan holding companies; Edge and agreement corporations; Branches and agencies of foreign banking organizations operating in the United States and their parent banks; Officers, directors, employees, and certain other categories of individuals associated with the above banks, companies, and organizations (referred to as"institution-affiliated parties").
Generally, the Federal Reserve takes formal enforcement actions against the above entities for violations of laws, rules, or regulations, unsafe or unsound practices, breaches of fiduciary duty, and violations of final orders. Formal enforcement actions include cease and desist orders, written agreements, prompt corrective action directives, removal and prohibition orders, and orders assessing civil money penalties. Available from August 1989 to the present.
Supervision and Regulation Letters
Address significant policy and procedural matters related to the Federal Reserve System's supervisory responsibilities. SR letters available from 1990 to the present
Opinions of Board staff and the Board of Governors.