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Standard Procedures
Link to Credit Standard
Federal Reserve Board
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Federal Reserve Board
Federal Reserve Board

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
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