The Federal Reserve System (the Federal Reserve or the Fed) is the central banking system of the United States. The Fed conducts the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.

The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers.