Yes, the FED does a lot of things that affect how much money
they keep with the Bank i.e. themselves.
- Open market operations: If the Fed wants more money for
themselves i.e. less money in the market they do the open market
selling of the Bonds in the market. By selling bonds and getting
money for it the reserve with the FED rises and when they buy bonds
from the market the reserve goes down.
- Setting the discount rate: If FED wants more money in reserve
i.e. less in the market they increase the discount rate (discount
rate is the interest which the FED charges from the other banks
while lending money) higher the discount rate the lower the banks
demand and higher the reserve and vice versa.
- Set the reserve rate requirement: FED also set the reserve
requirement which the bank should keep with them. Higher the
requirement more money will be in the reserve.