The Federal Reserve promotes a healthy economy and financial stability. The Federal Reserve Bank of St. Louis provides financial services to depository institutions, the U.S. government and foreign official institutions. It ensures safety and soundness of the nation's banking and financial system and protects the credit rights of consumers; It pursues maximum employment, stable prices and moderate long-term interest rates. The St. Louis Fed is a corporation chartered under the Federal Reserve Act. It is subject to oversight and supervision by the Board of Governors of the Federal Reserve System. As a corporation, it is governed by a board of directors, whose nine members are selected as provided in the Federal Reserve Act.