*  *  *  The Federal Reserve, like many central banks, is engaged in a wide range of activities beyond the making of monetary policy.
For example, the Fed plays a critical role in the U.S. payments system, both as an overseer and as a provider of wholesale and retail payments services; it has substantial responsibilities in the area of consumer protection, including rule-writing and enforcement; it promotes financial stability; and, together with other agencies, it supervises both large and small banking organizations.