The Federal Reserve Bank of Philadelphia is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The System’s primary role is to ensure a sound financial system and a healthy economy. To foster this goal, the Federal Reserve Bank of Philadelphia:
• helps formulate and implement monetary policy
• supervises banks and bank holding companies, and
• provides financial services to depository institutions and the federal government.