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TeachMeFinance.com - explain Federal Reserve System Federal Reserve System -- The central bank of the United States. The Federal Reserve is responsible for conducting the nation's monetary policy and overseeing credit conditions. another definition... Federal Reserve System -- The principal monetary authority (central bank) of the United States, which issues currency and regulates the supply of credit in the economy. It is made up of a seven-member Board of Governors in Washington, D.C., 12 regional Federal Reserve Banks, and their 25 branches. another definition... Federal Reserve System -- made up of the Federal Reserve Board, the 12 regional Federal Reserve Banks, federally chartered commercial banks, and state-chartered commercial banks that elect to be members. The Federal Reserve System serves as a central credit facility for member commercial banks, and controls the nation's money supply. another definition... Federal Reserve System -- (USA) The equivalent of the central bank of the USA and the coordinator of monetary policy. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.