Glossary
Test Your Knowledge
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How does the Federal Reserve System serve bankers?
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Type Your Response Here |
Correct Response: |
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Question: 1—2—3…4
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In which Federal Reserve district do you live? Click here to enter your zip code and identify your
district.
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Type Your Response Here |
Correct Response: |
Use this map to match the letter-number pair to the correct district.
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Richmond |
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Dallas |
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Cleveland |
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Boston |
Minneapolis |
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Chicago |
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New York |
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Kansas City |
San Francisco |
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Philadelphia |
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St. Louis |
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Atlanta |
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| Check Answers | |
That is incorrect. Return to those items showing a red background and try to
choose the letter-number pair that will change the background to green.
That is correct.
Conclusion
When Congress created the Federal Reserve System in 1913, the country was divided into 12 districts. Each district has a Federal Reserve Bank that serves and supervises member banks in that particular district. The Federal Reserve Banks also represent their districts in the broader Federal Reserve System. One of the most important venues where the Reserve Banks represent their districts is at the meetings of the Federal Open Market Committee, the topic of our next section.