The Federal Reserve Bank is a unit of the federal reserve system (the fed) that is responsible for holding the reserve balances of depository institutions.
There are three basic types of depository institutions in the United States. These include commercial banks, thrifts, and credit unions (which also include savings and loan associations and savings banks).
Depository institutions provide a check and electronic funds transfer payment systems, as well as liquidity and safeguarding services. In addition to investing in securities, depository institutions often aggregate the savings of many depositors and lend the money to people and businesses.
Learn more about depository institutions here:
https://brainly.com/question/19529262
#SPJ4
