The Federal Reserve Bank of San Francisco was established under the Federal Reserve Act in 1914 and is subject to the general oversight and supervision of the Board of Governors of the Federal Reserve System, in Washington, D.C. The San Francisco Fed is governed by a nine-member board of directors. Each of the four branches in Los Angeles, Portland, Salt Lake City and Seattle also has a separate seven-member branch board. The duties and responsibilities of the head office directors are set forth in the Federal Reserve Act, the San Francisco Fed’s bylaws, the charters for the directors’ committees, and Board of Governors’ policies.