By Neil Roland ( May 11, 2026, 21:12 GMT | Insight) -- The US Federal Reserve is revamping its aging infrastructure to cope with artificial intelligence and legislative changes over the years, Governor Christopher Waller said. Waller, who oversees Fed operations, said the central bank plans to centralize and standardize back-office functions such as information technology, human resources, financial management, enterprise risk management, and payments. The 12 regional Reserve Banks located across the country have 20,000 employees, the vast majority of whom perform these functions, he said. These banks, which serve as operating arms of the central bank, are each responsible for a specific geographic district.The US Federal Reserve is revamping its aging infrastructure to cope with artificial intelligence and legislative changes over the years, Governor Christopher Waller said....
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