What is the definition of Federal Reserve Board?

The Federal Reserve Board refers to the body that issues regulations as to the operations of banks and bank holding companies. It essentially helps in regulating these entities, as well as in controlling and overseeing the U.S. credit supply and money system abroad. Although it regulates and supervises the banking system in the country, it does not have complete responsibility over it.

The institutions that fall under its regulation include state-chartered banks, the activities of member banks abroad, the local activities of foreign banks, as well as companies that have controlling interest over banks.

There are times when the regulations issued by the board apply to member banks, and there are times when the regulations apply to the entire banking industry.

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