1 What is meant by the term Federal Reserve System?

2 The Federal Reserve System includes 12 regional Federal Reserve Banks and 25 Federal Reserve Bank branches.

3 The United States Congress established the Federal Reserve System in 1913 when it approved the Federal Reserve Act.

4 Federal Reserve System includes 12 regional Federal Reserve Banks and 25 Federal Reserve Bank branches.

5 The Federal Reserve System , or the Fed as it is usually called, is the fiscal agent of the United States.

6 And so the Federal Reserve System was organized in 1913.

7 In the United States this perfectly valid business practice is ratified by the Federal Reserve System.