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The United States Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system. It is a federal system, composed of a central, governmental agency and 12 regional Federal Reserve Banks. These 12 banks and their branches carry out a variety of system functions, including operating a nationwide payments system; distributing the nation s currency and coin; supervising and regulating member banks and bank holding companies; and serving as banker for the U.S. Treasury. The Federal Reserve Bank of St. Louis was established in 1914, after the creation of the Federal Reserve System in 1913. The St. Louis Fed is the headquarters of the Eighth Federal Reserve District and has branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn. The District includes all of Arkansas and portions of six other states: Missouri, Mississippi, Tennessee, Kentucky, Indiana and Illinois.