Who We Are, What We Do
Sections
Map of the Third Federal Reserve District
Other Federal Reserve Locations 
The Federal Reserve
System 
, which serves as the nation's central bank, comprises a Board of
Governors , based in Washington, D.C., and a network of 12 Reserve Banks. The
Board, which is accountable to Congress, oversees the activities of the Reserve
Banks, although each has its own board of directors, bylaws, and president. The
Fed's basic mission is to create the financial conditions that foster economic
growth: stable prices, sound banking practices, and a reliable payments system.
The Federal Reserve Bank of Philadelphia is responsible for the Third District, which covers eastern Pennsylvania, southern New Jersey, and the state of Delaware. Like all Reserve Banks, the Philadelphia Fed has a large and varied constituency, including depository institutions, local businesses, consumers, investors, educators, and community groups.
