important post for this time, thanks!

the Fed simply exists by Act of Congress, it is the 12 member banks where the ownership lies. https://www.federalreserve.gov/faqs/about_14986.htm

The New York regional bank is considered to be one of the more powerful ones.

“It’s surprising to see how concentrated it is,” says Razza. That lopsided ownership hasn’t changed much since the financial crisis: In 2007 JPMorgan owned 41.7 percent of the New York Fed’s shares and Citibank 36.6 percent, a combined 78.3 percent. https://www.institutionalinvestor.com/article/2bsx0wq4jdzo82fk8nhfk/culture/conspiracy-theorists-ask-who-owns-the-new-york-fed-heres-the-answer

Mandatory Subscription: Under Section 5 of the Federal Reserve Act, every member bank is required to subscribe to capital stock in its regional Reserve Bank in an amount equal to 6% of the member bank's own paid-up capital and surplus.

Federal reserve does not publish the details so we have to go by the major banks capital and surplus and multiplied by 6%, for example JP Morgan Chase.

This map here shows how many member banks participate in each of the 12 regions = how many pen shares in each regional bank. https://fred.stlouisfed.org/series/X15ATDTPLSMB (select “View Map” and click on a region to see how many participating member banks per regional Fed bank)

Here are list of some of the Fed regional banks shareholder banks by names, the commercial banks. https://www.federalreserve.gov/supervisionreg/state-member-banks-supervised-federal-reserve.htm#

But comparing the map to the list, there’s a lot left out. For New York, the list didn’t even mention JP Morgan not a very helpful list.

how did the big banks have their say or control or in a sense “own” the Fed?. they say by having their representation on the board of governors in particular class A. Board of directors The nine member board of directors of each district is made up of three classes, designated as classes A, B, and C. The directors serve a term of three years. The makeup of the boards of directors is outlined in U.S. Code, Title 12, Chapter 3, Subchapter 7:[30]

Class A three members chosen by, and representative of, the stockholding banks. member banks are divided into 3 groups based on size—large, medium, and small banks. Each group elects one member of Class A. https://en.wikipedia.org/wiki/Structure_of_the_Federal_Reserve_System#:~:text=The%20twelve%20Federal%20Reserve%20banks,of%20the%20Federal%20Reserve%20Banks.

u/brain_dead