Answer: The Federal Reserve System in the U.S. conducts the nation's monetary policy and regulates its banking institutions, The system is comprised of a minimum of 8, and a maximum of 12, regional reserve member banks, each of which focuses on its particular geographical zone, in coordination with the New York Fed. These are currently based in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
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