What is the Federal Reserve System?

The Federal Reserve System is the central banking system of the United States. It was created in 1913 with the signing of the Federal Reserve Act. The Federal Reserve System is composed of a central governing board, twelve regional Reserve Banks, and a large number of private member banks. The main purpose of the Federal Reserve System is to supervise and regulate the US banking system and to maintain the stability of the financial system. The Federal Reserve System sets and implements monetary policy, which determines the amount of money in circulation. It also acts as a "lender of last resort," providing additional funds to banks facing financial difficulty. The Federal Reserve System also supervises and regulates banking and financial institutions in Oregon and throughout the US. It is responsible for protecting consumers by establishing rules and regulations that all financial institutions must follow. It also works to promote financial stability and economic growth. In Oregon, the Federal Reserve System is responsible for the solvency of financial institutions, safety and soundness, consumer protection rules, and the accurate reporting of financial data. It also assesses economic conditions and works to ensure that financial institutions comply with applicable regulations.

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What is the Federal Reserve System?

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