It deals with private banks, determining how much money can be loaned out at what rate of interest etc. It is not, and should not be, an institution in which you and I can put my money. That would simply make it part of the commercial banking system which it is supposed to regulate. Nor should it be a supplier of government funds. If it is to do its job, it has to arms length and neutral, favouring neither rich nor poor.
Private citizens have plenty of options.
I don't like dealing with banks, so I deal with a cooperative.