#1
3rd November 2017, 10:45 AM
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Banks that make up the Federal Reserve
Can you list me the names of Federal Reserve Bank Branches which comes under Federal Reserve System?
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#2
3rd November 2017, 11:29 AM
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Re: Banks that make up the Federal Reserve
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. The Federal Reserve System is composed of five parts: The presidential appointed Board of Governors (or Federal Reserve Board), an independent federal government agency located in Washington, D.C. The Federal Open Market Committee (FOMC) composed of 7 members of Federal Reserve Board and 5 of 12 Federal Reserve Bank presidents, which oversees open market operations, the principal tool of U.S. monetary policy. 12 regional Federal Reserve Banks located in major cities throughout the nation, which divide the nation into 12 Federal Reserve districts. The Banks act as fiscal agents for the U.S. Treasury, and each has its own 9 member board of directors. Numerous other private U.S. member banks, which own required amounts of non-transferable stock in their regional Federal Reserve Banks Various advisory councils Federal Reserve Bank Branches Boston New York City Buffalo, New York (closed as of October 31, 2008) Philadelphia Cleveland Cincinnati, Ohio Pittsburgh, Pennsylvania Richmond Baltimore, Maryland Charlotte, North Carolina Atlanta Birmingham, Alabama Jacksonville, Florida Miami, Florida Nashville, Tennessee New Orleans, Louisiana Chicago Detroit, Michigan Des Moines, Iowa St Louis Little Rock, Arkansas Louisville, Kentucky Memphis, Tennessee Minneapolis Helena, Montana Kansas City Denver, Colorado Oklahoma City, Oklahoma Omaha, Nebraska Dallas El Paso, Texas Houston, Texas San Antonio, Texas San Francisco Los Angeles, California Portland, Oregon Salt Lake City, Utah Seattle, Washington |