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3rd November 2017, 11:29 AM
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Join Date: Aug 2012
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


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