| Federal Reserve System n. A U.S. banking system that consists of 12 federal reserve banks, with each one serving member banks in its own district. This system, supervised by the Federal Reserve Board, has broad regulatory powers over the money supply and the credit structure. |
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| Noun | 1. |  Federal Reserve System - the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"central bank - a government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government Federal Reserve Bank, reserve bank - one of 12 regional banks that monitor and act as depositories for banks in their region national bank - a commercial bank chartered by the federal government member bank - a bank that is a member of the Federal Reserve System |
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