Federal Reserve Bank

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Any of the 12 banks that together form the Federal Reserve System in the USA; they are situated in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St Louis, Minneapolis, Kansas City, Dallas, and San Francisco. They provide central bank services and are involved with the Federal Reserve Board of Governors in developing and enacting monetary policy, as well as regulating local commercial and savings banks. Each Federal Reserve Bank is owned by the local banks in its district.

Subjects: Financial Institutions and Services.

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