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Where Are the Federal Reserve Banks?

By    |   Tuesday, 14 July 2015 11:41 PM

There are 12 Federal Reserve banks representing the entire United States as a collection of 12 districts in which Fed policy is carried out, and central bank services are provided regionally. The reserve banks' headquarters stretch from Boston to Dallas to San Francisco, and they encompass a total of 24 Federal Reserve branch banks all across the mainland United States.

Perhaps the most visible of the 12 is the Federal Reserve Bank of New York, owing to its location in the middle of the Wall Street financial district, its underground vault storing thousands of tons of gold for foreign governments, and its landmark lower Manhattan office, a 22-story monolith of sandstone and limestone whose designers "sought a structural expression of strength, stability and security," according to the Federal Reserve Bank of New York.

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New York is the Fed's 2nd District. The 1st District is represented by the Federal Reserve Bank of Boston, which oversees banking in six New England states.

Ten more Federal Reserve districts span points west, south and north: the 3rd District, home of the Federal Reserve Bank of Philadelphia; 4th District, Cleveland; 5th District, Richmond; 6th District, Atlanta; 7th District, Chicago; 8th District, St. Louis; 9th District, Minneapolis; 10th District, Kansas City; 11th District, Dallas; and 12th District, San Francisco.

The 12 cities were chosen at the outset of the Fed's creation in 1914. Although the banks' headquarters and their affiliated branches are found only within the contiguous 48 states, the 12 Federal Reserve districts also collectively oversee banking in Alaska, Hawaii and the U.S. territories of Guam and Puerto Rico.

These 12 banks are distinct from the Fed's Board of Governors, a seven-member body including the Fed chair and vice-chair, who work at Federal Reserve headquarters in Washington, D.C.

The 12 banks and their 24 branches are essentially arms of the Federal Reserve, keeping tabs on the health of the individual commercial banks in their regions, and providing them with basic banking services such as check-cashing, and reporting on local economic conditions to help the Fed set policy.

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There are 12 Federal Reserve banks representing the entire United States as a collection of 12 districts in which Fed policy is carried out, and central bank services are provided regionally.
Federal Reserve, banks, where
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2015-41-14
Tuesday, 14 July 2015 11:41 PM
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