The part of the Federal Reserve System that is known as the "banker's bank" are the Federal Reserve Banks.
The Federal Reserve System is the central bank of the United States, an autonomous and private entity that controls the organizational structure in which a government agency, known as the Board of Governors, with headquarters in Washington DC participates. Many consider this as the public aspect of the system and the 12 Reserve Banks of the entire country, the private aspect, which are the banker's banks, as they guard part of the reserves of the "member banks" of the United States.
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central bank of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for the implementation of the monetary policy established by the Federal Open Market Committee.
