|Headquarters||701 E Byrd St |
Richmond, Virginia, USA
|Established||May 18, 1914|
|Central bank of|
|The Federal Reserve Bank of Richmond is one of 12 regional banks that make up the Federal Reserve System|
The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia excluding the Northern Panhandle. Branch offices are located in Baltimore, Maryland and Charlotte, North Carolina. Thomas Barkin became president of the Richmond Fed following the retirement of Jeffrey M. Lacker in April 2017.The previous president, J. Alfred Broaddus, retired in 2004.
The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
Richmond is a city in, and the capital of, the U.S. state of Virginia. It is the center of the Richmond Metropolitan Statistical Area (MSA) and the Greater Richmond Region. Richmond was incorporated in 1742 and has been an independent city since 1871.
Maryland is a state in the Mid-Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east. The state's largest city is Baltimore, and its capital is Annapolis. Among its occasional nicknames are Old Line State, the Free State, and the Chesapeake Bay State. It is named after the English queen Henrietta Maria, known in England as Queen Mary, who was the wife of King Charles I.
The Federal Reserve Bank of Richmond is located in Downtown Richmond, Virginia. It has an aluminum facade and was designed by Minoru Yamasaki, who also designed the former World Trade Center.Despite being one of the tallest buildings in the state, 49% of the building's total floor area is located underground. The building was proposed in 1972, and built from 1975-1978.
Downtown Richmond is the central business district of Richmond, Virginia. It is generally defined as being bound by Belvidere Street to the west, I-95 to the north and east, and the James River to the south. The Fan district borders it to the west, Highland Park to the north, Church Hill to the east, and Manchester to the south.
Minoru Yamasaki was an American architect, best known for designing the original World Trade Center in New York City and several other large-scale projects. Yamasaki was one of the most prominent architects of the 20th century. He and fellow architect Edward Durell Stone are generally considered to be the two master practitioners of "New Formalism".
The original World Trade Center was a large complex of seven buildings in Lower Manhattan, New York City, United States. It opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. At the time of their completion, the Twin Towers — the original 1 World Trade Center, at 1,368 feet (417 m); and 2 World Trade Center, at 1,362 feet (415.1 m)—were the tallest buildings in the world. Other buildings in the complex included the Marriott World Trade Center, 4 WTC, 5 WTC, 6 WTC, and 7 WTC. The complex was located in New York City's Financial District and contained 13,400,000 square feet (1,240,000 m2) of office space.
The Federal Reserve Bank of Richmond is the fourth-largest Federal Reserve Bank by assets held, after New York, San Francisco, and Atlanta, as of December 2018.
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is located at 33 Liberty Street, New York, New York. It is responsible for the Second District of the Federal Reserve System, which encompasses New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Working within the Federal Reserve System, the Federal Reserve Bank of New York implements monetary policy, supervises and regulates financial institutions and helps maintain the nation's payment systems.
The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash processing center in Phoenix.
The Federal Reserve Bank of Atlanta,, is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta, Georgia.
The following people serve on the board of directors as of 2018 [update] :
|Susan K. Still||President and Chief Executive Officer|
HomeTown Bankshares Corporation and HomeTown Bank
|William A. Loving Jr||Chief Executive Officer|
Pendleton Community Bank
Franklin, West Virginia
|Robert R. Hill, Jr.||Chief Executive Officer|
South State Corporation and South State Bank
Columbia, South Carolina
|Catherine A. Meloy||President and Chief Executive Officer|
Goodwill of Greater Washington/Goodwill Excel Center
George Mason University
|Thomas C. Nelson||Chairman, President, and Chief Executive Officer|
National Gypsum Company
Charlotte, North Carolina
| Margaret G. Lewis |
HCA Capital Division
| Kathy J. Warden |
|President and CEO|
Northrop Grumman Corporation
Falls Church, Virginia
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.
The Federal Reserve System is composed of five parts:
Union Presbyterian Seminary, located on the near north side of the city of Richmond, Virginia, United States, is a theological seminary founded by the Presbyterian Church. Through its main campus in Richmond, Virginia, a non-residential campus in Charlotte, North Carolina, and an extended campus online, Union prepares men and women to serve the church as pastors, educators, scholars, chaplains and missionaries.
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County. It has been headquartered since 1977 in the distinctive 614-foot (187 m) tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue, Boston. Designed by architecture firm Hugh Stubbins & Associates, the tower portion of the building is suspended between two towers on either side. From 1922 to 1977, the bank's headquarters were located at 250 Franklin Street, currently occupied by the Langham Hotel Boston.
The Federal Reserve Bank of Kansas City is located in Kansas City, Missouri and covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. It is second only to the Federal Reserve Bank of San Francisco in size of geographic area served. Missouri is the only state with two main Federal Reserve Banks, the other is located in St. Louis.
The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota, in the United States, covers the 9th District of the Federal Reserve, which is made up of Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan. Although its geographical territory is the third largest of the 12 Federal Reserve banks, it serves the smallest population base of the system. It has one branch, which is in Helena, Montana.
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the United States' central bank. Missouri is the only state to have two main Federal Reserve Banks.. Located in downtown St. Louis, the St. Louis Fed is the headquarters of the Eighth Federal Reserve District, which includes the state of Arkansas and portions of Illinois, Indiana, Kentucky, Mississippi, the eastern half of Missouri and West Tennessee. It has branches in Little Rock, Louisville and Memphis. Its building, at 411 Locust Street, was designed by St. Louis firm Mauran, Russell & Crowell in 1924. The Eighth District serves as a center for local, national and global economic research, and provides the following services: supervisory and regulatory services to state-member banks and bank holding companies; cash and coin-handling for the District and beyond; economic education; and community development resources.
The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It has branch offices in Cincinnati and Pittsburgh. The check processing center in Columbus, Ohio, was closed in 2005. The chief executive officer and president is Loretta Mester.
The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico, a district sometimes referred to as the Oil Patch. The Federal Reserve Bank of Dallas is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Dallas Fed is the only one where all external branches reside in the same state . The Dallas Fed has branch offices in El Paso, Houston, and San Antonio. The Dallas bank is located at 2200 Pearl St. in the Uptown neighborhood of Oak Lawn, just north of downtown Dallas and the Dallas Arts District. Prior to 1992, the bank was located at 400 S. Akard Street, in the Government District in Downtown Dallas. The older Dallas Fed building, which opened in 1921, was built in the Beaux-arts style, with large limestone structure with massive carved eagles and additional significant detailing; it is a City of Dallas Designated Landmark structure. The current Dallas Fed building, opened in September 1992, was designed by three architectural firms: Kohn Pedersen Fox Associates, New York; Sikes Jennings Kelly & Brewer, Houston; and John S. Chase, FAIA, Dallas and Houston, Dallas-based Austin Commercial Inc. served as project manager and general contractor.
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
Jeffrey M. Lacker is an American economist and was president of the Federal Reserve Bank of Richmond until April 4, 2017. He is now a Distinguished Professor in the Department of Economics at the Virginia Commonwealth University School of Business in Richmond, Virginia.
112 Tryon Plaza is a 280 ft (85 m) 22-story skyscraper in Charlotte, North Carolina. It was the second tallest building in North Carolina when completed in 1927, and the tallest building in Charlotte for about 35 more years. It is currently the 21st tallest building in the city. Located on "The Square" at the corner of Trade St. and Tryon St. adjacent to a pocket park, this building has a premiere location in Uptown Charlotte, also known as Charlotte center city. In 2006 it was sold for $12 million to the Simpson Organization.
Elizabeth (“Betsy”) Ashburn Duke is an American bank executive, most notable for being a member of the Board of Governors of the Federal Reserve System of the United States from 2008 through 2013. She was confirmed by the Senate June 27, 2008 to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board. In July 2013 she announced her resignation from the board.
The Federal Reserve Bank of Cleveland Pittsburgh Branch Office is one of two Federal Reserve Bank of Cleveland branch offices. The Pittsburgh Office of the Federal Reserve Bank of Cleveland hosts one of two savings bonds processing sites in the nation. The Pittsburgh branch presides over Jefferson, Monroe and Belmont counties in Ohio, Wetzel, Tyler, Pleasants, Marshall, Ohio, Brooke and Hancock counties in West Virginia, and all of Western Pennsylvania. In 1915 it was revealed that the Pittsburgh branch location was to be the new home of a relocated Cleveland Fed District with a majority vote secured on the board of governors, but the U.S. Attorney General at the time nixed moving the Cleveland, Kansas City, Minneapolis, Boston and Atlanta Federal Reserve Districts, stating that it would instead take an act of Congress to move those district headquarters. Pittsburgh remained a branch location only.
The Federal Reserve Bank of Richmond Baltimore Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. The Federal Reserve Bank of Richmond's Baltimore Branch is an operational and regional center for Maryland, the metropolitan Washington D.C. area, Northern Virginia, and northeastern West Virginia. The Baltimore branch is part of the Fifth District and has the code E5. It supports Check 21 operations, supplies coin and currency to financial institutions and works to maintain stability in the financial sector throughout the Fifth District and also works with local elected officials and non-profit organizations to support fair housing initiatives throughout the Fifth District. The Baltimore branch was founded in March 1918 and is currently headed by William R. Roberts.
The Federal Reserve Bank of Richmond Charlotte Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. The Federal Reserve Bank of Richmond’s Charlotte Branch is an operational and regional center for the Carolinas, including the nation’s second largest financial center in Charlotte, NC. They promote the safety and soundness of large bank holding companies headquartered in Charlotte. They distribute currency and coin to financial institutions in our region and provide check adjustment services for the Federal Reserve System. Their public programs include forums and conferences, economic education outreach, tours and a speakers’ bureau.Clemson Dean Lilly has been serving as the director since 2007.
The Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas. The branch is located on Allen Parkway in the Fourth Ward of Houston, Texas. The 297,000-square-foot (27,600 m2) building, which includes the second largest currency vault in the country, was designed by architect Michael Graves.
J. Alfred Broaddus, Jr. was the sixth president of the Federal Reserve Bank of Richmond, headquarters of the Fifth District of the Federal Reserve System serving the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia with the exception of the Northern Panhandle.
Robert P. Black, a native of Hickman, Kentucky, was the fifth president (1973–1992) of the Federal Reserve Bank of Richmond, the headquarters of the Fifth District of the Federal Reserve System. He was preceded in that position by Aubrey N. Heflin and succeeded by J. Alfred Broaddus (1993–2004) and Jeffrey Lacker.
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