78.9 F
New York

Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis is one of 12 Reserve Banks that together with the Board of Governors in Washington DC and the Federal Open Market Committee (FOMC) comprise the Federal Reserve System. It is also referred to as the Minneapolis Fed.

The Minneapolis Fed serves the Ninth Federal Reserve District. The ninth district covers Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan. It has one branch, which is in Helena, Montana. Although its geographical territory is the third largest of the 12 Federal Reserve banks, it serves the smallest population base of the system.

The Federal Reserve Bank of Minneapolis participates in the formulation and implementation of national monetary policy; supervises and regulates state member banks, bank holding companies and foreign bank branches; and provides financial services to depository institutions and the U.S. government.

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Central Bank