About Federal Reserve Bank Services
A Bank for Banks
The Federal Reserve Banks provide financial services to depository institutions including banks, credit unions, and savings and loans, much like those that banks provide for their customers. These services include collecting checks, electronically transferring funds, and distributing and receiving cash and coin.
A Bank for the Government
Additionally, the Federal Reserve acts as a fiscal agent or bank to the federal government by providing financial services to the United States Department of Treasury and by selling and redeeming government securities such as Savings Bonds and Treasury bills.
In Pursuit of a Better Payment System
The Federal Reserve Financial Services (FRFS) strategic direction focuses on meeting the evolving needs of payment system users for end-to-end payment speed, efficiency and security, while remaining true to our longstanding financial services mission to foster the integrity, efficiency and accessibility of the U.S. payment system. For more information on efforts to advance our strategic direction, visit FedPayments Improvement (Off-site).