THE OWNERSHIP STRUCTURE OF THE FEDERAL RESERVE
The FRB is broken down by 12 regional banks that operate within the entire FRB. Cap 1
Here is the statement from the FRB site:
The Federal Reserve System is not "owned" by anyone. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest.
The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking "system" has three important features: (1) a central governing board–the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.
The Board of Governors in Washington, D.C., is an agency of the federal government. The Board–appointed by the President and confirmed by the Senate–provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks.
https://www.federalreserve.gov/faqs/about_14986.htm
Now this is where reality differs from actuality's
from the same site it goes on to say the following:
Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank++. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund.
++these shares are all owned by commercial banks and are NOT liquid. There is no market for them on any exchange.
Here is that breakdown:
The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.
https://www.factcheck.org/2008/03/federal-reserve-bank-ownership/