From the Federal Reserve Bank Dallas website:"Who Owns the...

From the Federal Reserve Bank Dallas website:

"Who Owns the Fed?

Banks that hold stock in the Fed are called member banks. All nationally chartered banks hold stock in the Federal Reserve. State-chartered banks may choose to be members, upon meeting certain standards. However, holding Fed stock is not like owning publicly traded stock. Fed stock cannot be sold or traded. Member banks receive a fixed, 6 percent dividend annually on their stock, and they do not control the Fed as a result of owning this stock. They do, however, elect six of the nine members of Reserve Banks’ boards of directors."

The Federal Reserve Bank is not federal, has no reserves (they don't need any since they issue the currency), and isn't a bank (it is a system of 12 banks). You always put the problems in the title j/k :-)