Federal Reserve Banks - Definition and Overview

Federal Reserve Districts

The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches.

The Federal Reserve Bank of New York is located only a few blocks from the former location of the World Trade Center buildings. It has a gold vault 100 feet beneath the street. That depository is the largest in the world – even larger than the legendary Fort Knox gold reserves in the mid-1980s. The gold is owned by foreign nations, including Saudi Arabia and Kuwait. Its value is estimated at $25 billion.

Example Usage of Federal