The Fed's Functions
The links below to The Federal Reserve Today provide an overview of the functions, objectives, and organization of the Federal Reserve System. The publication was last updated in January 2012.
The Structure and Organization of the System
The basics of the Federal Reserve's organization – which includes the Board of Governors, the Federal Open Market Committee, and the twelve Reserve Banks – and its relationship with member banks, other depository institutions, and the public
System Functions and Objectives
A brief overview of the Federal Reserve’s traditional functions and its other vital activities in service of the federal government and consumer protection
Monetary Policy and Economic Activity
More about the Federal Open Market Committee, the Federal Reserve’s legislative mandate for monetary policy, and how the Fed manages inflation expectations and promotes financial stability
Financial Supervision and Regulation
More about the Federal Reserve's supervisory responsibilities over state member banks, bank and financial holding companies, and other institutions, and how the Fed works with other regulators
Payments Services for Financial Institutions
More about the check processing and electronic payments services that the Federal Reserve provides to the nation's financial system
Banking Services for the US Treasury
More about the banking, fiscal agent, and currency processing services that the Federal Reserve provides to the federal government
Consumer Protection and Education
More about the Federal Reserve's enforcement of consumer protection laws and promotion of impartial access to credit, sustainable community development, and economic education