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Definition of

Federal Reserve System

Banking

system of federal government control of US banks the central banking system of the United States, founded in 1913 by an Act of Congress. The board of governors, made up of seven members, is based in Washington, DC, and 12 Federal Reserve Banks are located in major cities across the United States. It regulates money supply, prints money, fixes the discount rate, and issues bonds for government debt.

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Definitions of ’Federal Reserve System’ and meaning of ’Federal Reserve System’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Federal Reserve System’ and other financial terms with our online QFINANCE Financial Dictionary.

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