The Federal Reserve Bank of St. Louis 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 St. Louis Fed.
The St. Louis Fed serves the Eighth Federal Reserve District. The eighth district covers the state of Arkansas, portions of Illinois, Indiana, Kentucky, Mississippi, and the eastern half of Missouri and West Tennessee. It has branches in Little Rock, Louisville, and Memphis.
The Federal Reserve Bank of St. Louis 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.
The St. Louis Fed’s most critical functions include:
- Promoting stable prices and economic growth.
- Fostering a sound financial system.
- Providing payment services to financial institutions.
- Supporting the U.S. Treasury’s financial operations.
- Advancing economic knowledge, community development and fair access to credit.