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Encyclopedia > Federal Reserve Bank
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Federal Reserve Districts
Federal Reserve Districts

The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches. based on usgs map - no copyright - coloration by me This image has been released into the public domain by the copyright holder, its copyright has expired, or it is ineligible for copyright. ... based on usgs map - no copyright - coloration by me This image has been released into the public domain by the copyright holder, its copyright has expired, or it is ineligible for copyright. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ...


The twelve regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized much like private corporations—possibly leading to some confusion about “ownership.” For example, the Federal Reserve Banks issue shares of stock to member banks. However, owning Federal Reserve Bank stock is quite different from owning stock in a private company. The Federal Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the system. The stock may not be sold or traded or pledged as security for a loan; dividends are, by law, limited to 6 percent per year. [1] A congress is a gathering of people, especially a gathering for a political purpose. ... A corporation (usually known in the United Kingdom and Ireland as a company) is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name... See stock (disambiguation) for other meanings of the term stock A stock, also referred to as a share, is commonly a share of ownership in a corporation. ... A loan is a type of debt. ...


The dividends paid to member banks are considered partial compensation for the lack of interest paid on member banks' required reserves held at the Fed. By law, banks in the United States must maintain fractional reserves, most of which are kept on account at the Fed. The Federal Reserve does not pay interest on these funds.


The Federal Reserve System was created by the Federal Reserve Act of 1913 which "established a new central bank designed to add both flexibility and strength to the nation's financial system. The legislation provided for a system that included a number of regional Federal Reserve Banks and a seven-member governing board. All national banks were required to join the system and other banks could join. The Federal Reserve Banks opened for business in November 1914. Congress created Federal Reserve notes to provide the nation with an elastic supply of currency. The notes were to be issued to Federal Reserve Banks for subsequent transmittal to banking institutions in accordance with the needs of the public. The Federal Reserve Act of 1913, also called the Glass-Owen Bill, established the Federal Reserve System in the United States. ... 1914 is a common year starting on Thursday. ...


The Federal Reserve Bank of New York is located only a few blocks from the former location of the World Trade Center buildings. It has a gold vault 100 feet (30 m) beneath the street. That depository is the largest in the world; even larger than the legendary Fort Knox gold reserves in the mid-1980s. The gold is owned by foreign nations, including Saudi Arabia and Kuwait. Its value is estimated at $25 billion. Free tours of the vault are available to the public. New York City (officially named the City of New York) is the most populous city in the United States, the most densely populated major city in North America, and is at the center of international finance, politics, entertainment, and culture. ... This article is about the World Trade Center complex in New York City; see this article for the many other buildings around the world that have also been called world trade centers. The World Trade Center in New York City was a complex of seven buildings designed by American architect... There is also a Fort Knox in the state of Maine, across the Penobscot River from Bucksport. ...


Banks

The Federal Reserve Bank of Boston is responsible for the First District of the Federal Reserve, which covers Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. ... The Federal Reserve Bank of New York is one of the twelve Federal Reserve Banks of the United States, and is located in Albany in New York State. ... Aerial view of downtown Buffalo, New York Buffalo, is an American city in western New York. ... The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. ... The Federal Reserve Bank of Cleveland. ... Cincinnati is a city in southwestern Ohio, United States that lies on the Ohio River and is the county seat of Hamilton County6. ... (This article is about the city. ... The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve. ... Baltimore skyline at night Motto: BELIEVE (formerly The City That Reads) Nickname: Charm City Mob Town Location in Maryland Founded  -Incorporated 30 July 1729 1797  County Independent city Mayor Martin J. OMalley (Dem) Area  - Total  - Water 349. ... For other places or people named Charlotte, see Charlotte (disambiguation). ... The Federal Reserve Bank of Atlanta is responsible for the 6th District of the Federal Reserve, which covers Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. ... Birmingham is the largest city in the U.S. state of Alabama and the county seat of Jefferson County. ... The Jacksonville skyline and the Acosta Bridge. ... City nickname: The Magic City, The American Riviera, The Sixth Borough Location Location of Miami in the State of Florida Government County Miami-Dade Mayor Manuel “Manny” Diaz (R) Physical characteristics Area      Land      Water 54 km²      35. ... The Nashville skyline Nashville is the capital of the U.S. state of Tennessee. ... For information on the events of Hurricane Katrina, see effect of Hurricane Katrina on New Orleans. ... Federal Reserve Bank of Chicago, located at the corner of LaSalle and Jackson streets. ... Motto: Speramus Meliora; Resurget Cineribus (We Hope For Better Things; It Shall Rise From the Ashes - this motto was adopted after the disastrous 1805 fire that devastated the city) Nickname: The Motor City and Motown Location in Wayne County, Michigan Founded Incorporated July 24, 1701 1815  County Wayne County Mayor... Nickname: The City of Roses Location in Arkansas Founded Incorporated 1821 1831  County Pulaski County Mayor Jim Dailey Area  - Total  - Water 302. ... Louisville (usually pronounced ; see Pronunciation below) is a major industrial city on the Ohio River. ... Memphis is a city in Shelby County, Tennessee, of which it is the county seat. ... Federal Reserve Bank of Minneapolis The Federal Reserve Bank of Minneapolis covers the 9th District of the Federal Reserve, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan. ... Helena, Montana Helena is the capital of Montana, a state of the United States of America. ... Front of the Federal Reserve Bank of Kansas City The Federal Reserve Bank of Kansas City covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. ... Denver skyline, 1999. ... Downtown Oklahoma City The State Capitol of Oklahoma From The South Founded Incorporated   County Oklahoma County Mayor Mick Cornett Area  - Total  - Water 1,608. ... Location in Nebraska Founded  -Incorporated 1854 1857  County Douglas County Mayor Michael Fahey Area  - Total  - Water 1290. ... The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico. ... Downtown El Paso, Texas, looking south into Mexico from the US side. ... Houstons downtown skyline. ... Downtown San Antonio as viewed from the Tower of the Americas Nickname: Alamo City Location in Texas Founded Incorporated 1731   County Bexar County Mayor Phil Hardberger Area  - Total  - Water 1,067. ... The facade of the Federal Reserve Bank of San Francisco. ... The City of Los Angeles (from Spanish Los Ángeles , meaning the angels), also known as L.A., is the second-largest city in the United States in terms of population, as well as one of the worlds most important economic, cultural, and entertainment centers. ... Portland is the largest city in Oregon, and county seat of Multnomah County. ... ... Downtown Seattle skyline City nickname: The Emerald City Location Location of Seattle in King County and Washington Government County King Mayor Greg Nickels NP/Democrat ¹ Physical characteristics Area      Land      Water 369. ...

See also


  Results from FactBites:
 
FRB: Federal Reserve Districts and Banks (81 words)
The Federal Reserve officially identifies Districts by number and Reserve Bank city.
In the 12th District, the Seattle Branch serves Alaska, and the San Francisco Bank serves Hawaii.
The System serves commonwealths and territories as follows: the New York Bank serves the Commonwealth of Puerto Rico and the U.S. Virgin Islands; the San Francisco Bank serves American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.
Federal Reserve System - MSN Encarta (1993 words)
Federal Reserve System, central banking system of the United States, popularly called the Fed. A central bank serves as the banker to both the banking community and the government; it also issues the national currency, conducts monetary policy, and plays a major role in the supervision and regulation of banks and bank holding companies.
The board of directors is responsible for the administration of its bank and for appointing the bank's president and vice president (subject to the approval of the Board of Governors).
Their staffs examine state member banks (national banks are examined by the staff of the Office of the Comptroller of the Currency; insured nonmember banks are subject to FDIC examination), decide on granting loans to members, and carry out the routine banking functions for the federal government.
  More results at FactBites »

 
 

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