Which of the following is NOT one of the three branches of the Federal Reserve System?

The Federal Reserve System, often referred to as the Fed, is structured into three main components that oversee and implement monetary policy in the United States. These components include the Board of Governors, which provides overall direction and policy oversight; the Federal Open Market Committee (FOMC), which is responsible for open market operations that influence interest rates and money supply; and the twelve regional Federal Reserve Banks, which operate in various locations across the U.S. and provide central banking services.

The Federal Deposit Insurance Corporation (FDIC), while a significant entity in the banking system, is not part of the Federal Reserve System. The FDIC primarily focuses on providing deposit insurance to protect depositors in the event of bank failures and plays a role in ensuring stability in the banking system, but its mandate and operational framework are distinct from those of the Federal Reserve. This differentiation makes it clear why the FDIC is the correct answer to the question regarding which option is not one of the three branches of the Federal Reserve System.