Final answer:
The Federal Reserve System regulates financial institutions, conducts monetary policy, and enforces consumer protection laws. Depository institutions, such as commercial banks, are part of the Federal Reserve System. The General Services Administration and the FDIC are not part of the Federal Reserve System.
Step-by-step explanation:
The Federal Reserve System is a central banking system in the United States that was established in 1913. Its main role is to regulate financial institutions, conduct monetary policy, provide services to the government, maintain the payment system, and enforce consumer protection laws.
Depository institutions, such as commercial banks, savings and loan associations, and credit unions, are part of the Federal Reserve System. They have to follow the regulations set by the Federal Reserve and receive services like check clearing from the Federal Reserve Banks.
The General Services Administration (GSA) is not part of the Federal Reserve System. It is an independent agency of the U.S. government responsible for managing federal property and providing support services to federal agencies.
The FDIC (Federal Deposit Insurance Corporation) is not part of the Federal Reserve System either. It is an independent agency that insures deposits in banks and savings associations, promotes the safety and soundness of the banking system, and resolves failed financial institutions.