One of the functions of the 12 regional Fed banks is to audit the books of private-sector banks in their region to be sure that they are financially sound.

Name: One of the functions of the 12 regional Fed banks is to audit the books of private-sector banks in their region to be sure that they are financially sound.
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One of the functions of the 12 regional Fed banks is to supervise and regulate private-sector banks in their region, including auditing their books to ensure their financial soundness.

One of the Functions of the 12 Regional Fed Banks