Regional Federal Reserve Banks
A) are located in each of the 50 states.
B) are run by the governors of the states in which they are located.
C) provide general banking services to the public.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

The Federal Reserve Banks are not located in each of the 50 states, they are not run by the governors of the states, and they do not provide general banking services to the public. There are 12 regional Federal Reserve Banks, and they serve as the central bank's operating arms in their respective regions, primarily dealing with banks and other financial institutions rather than the public.