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The Federal Reserve Banks

The Federal Reserve Districts are listed below along with their identifying letter and number. These are used on Federal Reserve Notes to identify the issuing bank for each note.
Federal Reserve Bank Letter Number Website
Boston
A 1 http://www.bos.frb.org/
New York
B 2 http://www.newyorkfed.org/
Philadelphia
C 3 http://www.philadelphiafed.org/
Cleveland
D 4 http://www.clevelandfed.org/
Richmond
E 5 http://www.richmondfed.org/
Atlanta
F 6 http://www.frbatlanta.org/
Chicago
G 7 http://www.chicagofed.org/
St Louis
H 8 http://www.stlouisfed.org/
Minneapolis
I 9 http://www.minneapolisfed.org/
Kansas City
J 10 http://www.kansascityfed.org/
Dallas
K 11 http://www.dallasfed.org/
San Francisco
L 12 http://www.frbsf.org/


The member banks

National banks are required to be member banks in the Federal Reserve System. Federal statute provides (in part):Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this chapter and shall thereupon be an insured bank under the Federal Deposit Insurance Act [ . . . . ]"[13] Other banks may elect to become member banks. According to the Federal Reserve Bank of Boston:Any state-chartered bank (mutual or stock-formed) may become a member of the Federal Reserve System. The twelve regional Reserve Banks supervise state member banks as part of the Federal Reserve System’s mandate to assure strength and stability in the nation’s domestic markets and banking system. Reserve Bank supervision is carried out in partnership with the state regulators, assuring a consistent and unified regulatory environment. Regional and community banking organizations constitute the largest number of banking organizations supervised by the Federal Reserve System.[14] For example, as of October 2006 the member banks in New Hampshire included Community Guaranty Savings Bank; The Lancaster National Bank; The Pemigewasset National Bank of Plymouth; and other banks.[15] In California, member banks (as of September 2006) included Bank of America California, National Association; The Bank of New York Trust Company, National Association; Barclays Global Investors, National Association; and many other banks.[16]

Source: The United States Federal Reserve


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