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The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:
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The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:

User Anuja Lamahewa
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the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC)

User Shlomi Schwartz
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Board of governors.

The board has 7 members appointed by the President of the United States and confirmed by Congress who serve 14 year terms.

User Nirav Zaveri
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