The Federal Reserve System (FRS) is the most important banking system in the United States, which governs the financial and credit policy of the United States and plays a key role in the global economy. It is also called the Federal Reserve System. The Federal Reserve System controls the activities of banks and holdings that are part of its structure; activities of foreign banks that operate in the United States; and all international transactions that are performed by US banks.
The main tasks of the Federal Reserve System:
Management of financial and monetary issues.
Maintaining a balance between the interests of private banks and the state.
Monitoring the work of banking organizations.
Performing the functions of the Central Bank of the country.
Protection of consumer rights in the field of banking services.
Regulation of the level of liquidity and elimination of emerging problems.
Monitoring and maintaining the stable operation of the country's financial system.
Work in the system of international and domestic settlements.
Monitoring and regulation of the financial sector.
Storage of gold and foreign exchange assets (reserves).