Which of the following is considered a federal banking agency?

The Board of Governors of the Federal Reserve System is classified as a federal banking agency because it serves as the central banking system of the United States. It plays a crucial role in regulating and supervising the banking industry, setting monetary policy, and maintaining financial stability within the economy. The Board's functions include overseeing a variety of banking institutions, conducting economic research, and making decisions regarding interest rates and money supply, which are vital for the overall health of the financial system.

In contrast, the Federal Trade Commission is primarily focused on consumer protection and antitrust laws, while the Securities and Exchange Commission oversees securities markets and protects investors. The Internal Revenue Service, on the other hand, administers and enforces federal tax laws. Each of these agencies plays important roles in their respective fields, but only the Board of Governors of the Federal Reserve specifically operates as a banking agency with direct regulatory authority over financial institutions.