1  As of February 17, 2015, there were five Governors serving, with one more nominee awaiting Senate confirmation. BIS central bankers’ speeches  3  The Reserve Banks also act as the bank for the U.S. Treasury.
They work closely with the Treasury to develop payment processes, such as making payments on the public debt, distributing payments to Social Security recipients, and so forth. The Banks also support community development activities, including research and engaging organizations to find effective and impactful development solutions that promote the Federal Reserve System’s economic growth objectives in low- and moderate-income communities.