Financial Definition of Federal Reserve System
Meaning of Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the Federal Reserve Board located in Washington, D.C. The system includes 12 Federal Reserve Banks and is authorized to regulate monetary policy in the U.S. as well as to supervise Federal Reserve member banks, bank holding companies, international operations of U.S.banks, and U.S.operations of foreign banks.
Related Entries of Federal Reserve System in the Encyclopedia of Law Project
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Federal Reserve System in Historical Law
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Legal Abbreviations and Acronyms
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Federal Reserve System Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Federal Reserve System in a way that is easy for anybody to understand: System established by the Federal Reserve Act of 1913 to regulate the U.S. monetary and banking system.
United States Tax Concept of Federal Reserve System
The Federal Reserve System is a group of banks that regulate the U.S. money supply and set rules designed to keep commercial and savings banks solvent. They also provide emergency loans to commercial and savings banks.
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