... trademark of the Federal Reserve banks. making sense OF THE FEDERAL RESERVE15t the core of the Federal Reserve System is the Board of Governors, or Federal Reserve Board. The Board of Governors, ... banks, the companies that own banks and international organizations that do banking business in the United States. The Federal Deposit Insurance Corp. (FDIC), the Of ce of the Comptroller of the ... that the nation’s payments system functions smoothly. In addition, the Board oversees the activities of Reserve banks, approving the appointments of their presidents and three members of the...