The US central bank, a system of 12 Federal Reserve banks, each serving member commercial banks in its own district. This system, supervised by the Federal Reserve Board, has broad regulatory powers over the money supply and the credit structure.
Federal Reserve System.
Federal-reserve Sentence Examples
Cleveland is the seat of a federal reserve bank.
Louis Federal Reserve district was the first to subscribe its quota.
As chairman of the House Banking Committee he was active in framing and passing the Federal Reserve Bank Law.
In this position he contributed largely to the working-out of the new Federal Reserve Banks system.
He was chairman of the committee which divided the country into 12 Federal Reserve districts and selected the centres for the 12 banks; and was likewise chairman of the Federal Reserve Board which had supervision over the system inaugurated in Nov.