The operations of the Federal Reserve System are conducted through the Board of Governors and a network of 12 Federal Reserve Banks located in districts across the country. The Federal Reserve System provides a variety of services for member commercial banks, the United States Government, and the public. Federal Reserve Banks clear and collect checks, transfer funds, distribute coin and currency, and extend credit to member banks. They supervise and regulate member banks and bank holding companies. As bankers for the Federal Government, Federal Reserve Banks carry the principal checking accounts of the United States Treasury and market Treasury securities.