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The Twelve US District Reserve Banks

The Twelve Regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The "Fed," as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. It is responsible for:

  • formulating and executing monetary policy,
  • supervising and regulating depository institutions,
  • providing an elastic currency,
  • assisting the federal government's financing operations, and
  • serving as the banker for the U.S. government.

Each Bank plays a vital role in the monetary policy area as well, seeking to keep prices stable and economic growth at its maximum sustainable rate. The Bank president is a decision maker on the direction of interest rates, along with the other Bank presidents and the seven governors at the Board, all of whom meet every six weeks in Washington at the Federal Open Market Committee meeting. The Bank's Board of Directors--drawn from the business community, banks, and labor and consumer organizations--makes recommendations every two weeks on the level of the discount rate, the rate at which the Bank lends to commercial banks.

  • Federal Reserve Bank of Atlanta - The Atlanta Fed and the other eleven Reserve Banks play an important part in all three of the Fed's functions--monetary policy, bank supervision and regulation, and the operation of a nationwide payments system. Atlanta Fed staff examine banking institutions in Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee--the states that make up the Sixth Federal Reserve District. Through its six facilities in these states--in Atlanta, Birmingham, Jacksonville, Miami, Nashville, and New Orleans--the Bank provides cash to banks, S&Ls, and other depository institutions; transfers money electronically through the FedWire® funds transfer system and ACH; and clears millions of checks every day. 
  • Federal Reserve Bank Of Boston - The Federal Reserve Bank of Boston was organized in October 1914. It is serving Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. Its website includes information on banking, community affairs, economic research, educational programs, financial services, and publications.
  • Federal Reserve Bank of ChicagoThe Chicago Fed serves the Seventh Federal Reserve District, an economically diverse region that includes all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin. The Seventh District has a large national share of many important economic sectors. The Chicago Fed has a head office in Chicago, branch office in Detroit, regional offices in Des Moines, Indianapolis and Milwaukee and facilities in Peoria (Illinois) and on the Southwest Side of Chicago. Chicago Fed responsibilities :As one of the 12 regional Reserve Banks, the Chicago Fed is responsible for: helping to formulate national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services such as check clearing and electronic payment processing to banks and the U.S. government.
  • Federal Reserve Bank of Cleveland - The Federal Reserve Bank of Cleveland was established in 1914 as a part of the Federal Reserve System, the central bank of the United States. The Cleveland Fed took up residence in its current home in the heart of downtown Cleveland in 1923. The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of 12 regional Reserve Banks that, together with the Board of Governors in Washington, make up the Federal Reserve System. The Cleveland Fed has branch offices in Cincinnati and Pittsburgh and a check processing center in Columbus.
  • Federal Reserve Bank of Dallas - As one of twelve regional Reserve Banks in the Federal Reserve System, the Dallas Fed serves the Eleventh Federal Reserve District, which consists of Texas, northern Louisiana and southern New Mexico.  Dallas Fed plays in maintaining the economic vitality and financial stability of this region.
  • Federal Reserve Bank of Kansas City - The Federal Reserve Bank of Kansas City is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The "Fed," as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. It is responsible for: formulating and executing monetary policy; supervising and regulating depository institutions; providing an elastic currency; assisting the federal government's financing operations; and serving as the banker for the U.S. government. Servicing Kansas City, Denver, Oklahoma City, Omaha. Includes information on economic research, financial services, community affairs, public affairs, bank supervision, and consumer affairs.
  • Federal Reserve Bank of Minneapolis - The Federal Reserve Bank of Minneapolis is one of 12 Federal Reserve Banks which, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System, our nation's central bank. The Minneapolis Fed, with one branch in Helena, Montana, serves the Ninth Federal Reserve District. Included in the district are Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin and the Upper Peninsula of Michigan. The Wisconsin counties in the Ninth District are Ashland, Barron, Bayfield, Buffalo, Burnett, Chippewa, Douglas, Dunn, Eau Claire, Florence, Forest, Iron, La Crosse, Lincoln, Oneida, Pepin, Pierce, Polk, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Vilas, and Washburn. The Ninth District stretches 1,800 miles from east to west. It covers 409,291 square miles and is home to 8.4 million people. Although 12 percent of the nation's land is in the Ninth District, only 3 percent of the nation's population resides here.
  • Federal Reserve Bank of New York - The Federal Reserve Bank of New York is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The "Fed," as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States. It is responsible for: formulating and executing monetary policy; supervising and regulating depository institutions; providing an elastic currency; assisting the federal government's financing operations; and serving as the banker for the U.S. government.
  • Federal Reserve Bank of Philadelphia - The Federal Reserve System, which serves as the nation's central bank, comprises a Board of Governors, based in Washington, D.C., and a network of 12 Reserve Banks. The Board, which is accountable to Congress, oversees the activities of the Reserve Banks, although each has its own board of directors, bylaws, and president. The Fed's basic mission is to create the financial conditions that foster economic growth: stable prices, sound banking practices, and a reliable payments system. The Federal Reserve Bank of Philadelphia is responsible for the Third District, which covers eastern Pennsylvania, southern New Jersey, and the state of Delaware. Like all Reserve Banks, the Philadelphia Fed has a large and varied constituency, including depository institutions, local businesses, consumers, investors, educators, and community groups.
  • Federal Reserve Bank of Richmond - The Federal Reserve Bank of Richmond and 11 other Federal Reserve Banks nationwide, together with the Board of Governors in Washington D.C., make up the Federal Reserve System, which is the nation's central bank. Founded by Congress in 1913, the Fed's role is to foster a stable economy and financial system. The Richmond Fed is headquarters for the Fifth Federal Reserve District, which includes Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia . In addition to the Richmond, Va., headquarters, branch offices are located in Baltimore, Md., and Charlotte, N.C., and specialized check processing centers in Charleston, W.Va., and Columbia, S.C. The Richmond Fed operates with a regional perspective. They gather and analyze vital economic data on the Fifth Federal Reserve District and contribute to the formulation of national monetary policy. They supervise and regulate banks and financial holding companies headquartered in the Fifth District. They e process currency, check and electronic payments for banks. And they provide financial services to the U.S. Treasury.
  • Federal Reserve Bank of San Francisco - The Federal Reserve Bank of San Francisco is one of twelve regional Federal Reserve Banks across the U.S. that, together with the Board of Governors in Washington, D.C., serve as our nation's central bank.  The Twelfth Federal Reserve District includes the nine western states--Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington--and American Samoa, Guam, and the Northern Mariana Islands. Branches are located in Los Angeles, Portland, Salt Lake City, and Seattle. The largest District, it covers 35 percent of the nation's landmass, ranks first in the size of its economy, and is home to approximately 20 percent of the nation's population.
  • Federal Reserve Bank of St. Louis - The Federal Reserve Bank of St. Louis was established in 1914, after the creation of the Federal Reserve System in 1913. The St. Louis Fed is the headquarters of the Eighth Federal Reserve District and has branches in Little Rock, Louisville and Memphis. The District includes all of Arkansas and portions of six other states: Missouri, Mississippi, Tennessee, Kentucky, Indiana and Illinois. The St. Louis Bank serves most of eastern Missouri and Southern Illinois.

 

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