Federal Reserve Membership
Who Can Become
a Member of the Federal Reserve System
Any state-chartered bank (mutual or stock-formed) may become a member of the Federal Reserve System. The twelve regional Reserve Banks supervise state member banks as part of the Federal Reserve System's mandate to assure strength and stability in the nation's domestic markets and banking system. Reserve Bank supervision is carried out in partnership with the state regulators, assuring a consistent and unified regulatory environment. Regional and community banking organizations constitute the largest number of banking organizations supervised by the Federal Reserve System. Through its decentralized structure, use of emerging technology and partnerships with state regulators, the Federal Reserve has developed a risk-focused approach that is responsive and provides member banks with a high quality and efficient supervisory process.
- Supervisory decisions are made at the Reserve Bank,
where officers and examiners are familiar with local
business conditions and practices.
- Bankers have ready access to the Reserve Bank officer
responsible for their institution.
- State member banks are assigned a Reserve Bank representative
to serve as the banks central point of contact
with regard to supervisory and regulatory matters.
- The Federal Reserves local supervision model
is closely aligned with the state banking
model and is supportive of the dual banking system.
- Reserve Bank examiners are available to make advisory
visits for areas of special interest such as consumer
compliance, the Bank Secrecy Act or risk management
- The Federal Reserves risk focused examinations
are tailored to a banks size and activities,
and allow examiners to balance transaction testing
with the strength of the banks risk management
- Information provided as part of the supervisory
process is clear, concise, timely and geared to meet
the banks needs.
- Federal Reserve staff have a well deserved reputation
of being professional, dedicated