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What is Structure and Functions of the Federal Reserve about?

The Federal Reserve is the central bank of the United States and consists of the Board of Governors and 12 regional Reserve Banks. The Board of Governors is responsible for formulating monetary policy and regulating banks. The unique structure of the US banking system includes over 6,000 commercial banks, reflecting historical regulations restricting interstate branching, as well as a dual banking system where banks can be chartered at the state or federal level.

Author

Nastia Vasilenko

Language

EN