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FRS FRS n 1: the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply" [synonym: {Federal Reserve System}, {Federal Reserve}, {Fed}, {FRS}] Frame Relay Service (ATM, UNI) FRS: //, n.,obs. [obs.] Abbreviation for “Freely Redistributable
Software” which entered general use on the Internet in 1995 after years of low-level confusion over what exactly to call software written to be passed around and shared (contending terms including freeware, shareware, and sourceware were never universally felt to be satisfactory for various subtle reasons). The first formal conference on freely redistributable software was held in Cambridge, Massachussetts, in February 1996 (sponsored by the Free Software Foundation). The conference organizers used the FRS abbreviation heavily in its calls for papers and other literature during 1995. The term was in steady though not common use until 1998 and the invention of open source, after which it became swiftly obsolete.
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