[nilesh]

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Can you tell me in detail about Federal Reserve Bank under Federal Reserve System in US (United States)?

[Vishal Kotkar]

The Federal Reserve System (Federal Reserve) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act in response to a series of financial panics that showed the need for central control of the monetary system.

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are 12 in total, 1 for each of the 12 Federal Reserve Districts that were created by the Federal Reserve Act of 1913.

The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows:

• Federal Reserve Bank of Boston
• Federal Reserve Bank of New York
• Federal Reserve Bank of Philadelphia
• Federal Reserve Bank of Cleveland
• Federal Reserve Bank of Richmond
• Federal Reserve Bank of Atlanta
• Federal Reserve Bank of Chicago
• Federal Reserve Bank of St. Louis
• Federal Reserve Bank of Minneapolis
• Federal Reserve Bank of Kansas City
• Federal Reserve Bank of Dallas
• Federal Reserve Bank of San Francisco

Some banks also possess branches, with the whole system being headquartered at the Eccles Building in Washington, D.C.

Assets

Federal Reserve Bank Total assets (as of 17-Sep-2015)
New York City US$2.62T
San Francisco US$ 512B
Richmond US$ 289B
Atlanta US$ 244B
Chicago US$ 175B
Dallas US$ 154B
Cleveland US$ 133B
Philadelphia US$ 120B
Boston US$ 91B
Kansas City US$ 61B
St. Louis US$ 58B
Minneapolis US$ 32B
All banks US$4.49T