(a) Federal Reserve Banks. The United States is divided into 12
Federal Reserve Districts. A Federal Reserve Bank is located in one
city in each Federal Reserve District. Ten of the Federal Reserve
Banks have one or more Branches in other cities, and in some Districts
there are offices or facilities with specialized functions. Each Federal
Reserve Bank is a separate legal entity, created pursuant to the Federal
Reserve Act and operating under the general supervision of the Board.
The locations of the 12 Federal Reserve Banks and the 25 Federal Reserve
Branches are shown in the appendix. Each Federal Reserve Bank, in
addition to its other duties, carries out local functions for the
Board pursuant to instructions of the Board, and in many matters acts
as the Board’s field representative in the Bank’s District. Each Reserve
Bank assists in the regional administration of the Board’s regulations
and policies, keeps the Board informed of local conditions, and recommends
actions it thinks appropriate in particular cases. In general, persons
concerned with Federal Reserve matters should deal in the first instance
with the Federal Reserve Bank of the appropriate District or a Branch
thereof, and the Board requests all persons to follow this procedure.
(b) Federal Reserve agents. Each Federal Reserve Bank has nine directors, three of whom are
appointed by the Board. One of the directors appointed by the Board
is designated by the Board as chairman of the board of directors of
the Bank and as Federal Reserve agent. This director acts as the Board’s
official representative and maintains a local office of the Board
on the premises of the Federal Reserve Bank.
