 Federal Reserve Seal | |
.jpg) Headquarters | |
| Headquarters | 230 S LaSalle Street Chicago, IL, USA |
|---|---|
| Established | May 18, 1914 |
| President | Austan Goolsbee |
| Central bank of | |
| Website | chicagofed.org |
| The Federal Reserve Bank of Chicago is one of 12 regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve Federal Reserve Banks that, along with the Federal Reserve Board of Governors, make up the Federal Reserve System, the United States' central bank. The Chicago Fed serves the Seventh 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.
The Chicago Fed was established on May 18, 1914, when representatives from five Seventh District banks formally signed the Chicago Fed's organization certificate.[1] The Bank officially opened for business on Monday, November 16, 1914.[2]
- ^ "Chicago Fed History: 1907-1914 - Federal Reserve Bank of Chicago". www.chicagofed.org. Retrieved 2023-12-11.
- ^ "Federal Reserve Bank of Chicago | Federal Reserve History". www.federalreservehistory.org. Retrieved 2023-12-11.