Answer:
do not have stock in Federal Reserve Banks.
Step-by-step explanation:
Member banks must own shares of stock in the 12 regional Federal Reserve Banks and earn dividends mandated by law to be 6 percent. But the banks must return all profits, after paying expenses, to the U.S. Treasury. Holding this stock does not carry with it the control and financial interest given to holders of common stock in for-profit organizations. The stock may not be sold/traded or pledged as collateral for loans. These don’t give the member banks voting rights. Member banks also appoint six of the nine members of each Bank's board of directors.