Federal Reserve

The Federal Reserve System (often called the Fed) is the central bank of the United States, established by the Federal Reserve Act of 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system, with its regulatory arm, the Board of Governors, directly supervising and examining thousands of financial institutions for compliance with critical laws like the Bank Secrecy Act (BSA) and related Anti-Money Laundering (AML) and sanctions regulations.