The Federal Reserve Bank of Atlanta is responsible for the sixth district, which covers the states of Alabama, Florida, and Georgia, 74 counties in the eastern two-thirds of Tennessee, 38 parishes of southern Louisiana, and 43 counties of southern Mississippi. The Sixth District operates branches in Atlanta, Birmingham, Jacksonville, Miami, Nashville, and New Orleans. These branches provide cash to banks, savings and loans, and other depository institutions; transfer money electronically; and clear millions of checks.
The bank is currently located at 1000 Peachtree Street NE in Midtown Atlanta. Prior to 2001, the bank was located in downtown Atlanta at 104 Marietta Street NW, which is now the home of the State Bar of Georgia.
The current president, Dennis P. Lockhart took office March 1, 2007, as the 14th president and chief executive officer of the Sixth District Federal Reserve Bank, at Atlanta.
The Atlanta Fed has three main functions: monetary policy, operation of nationwide payment system, and bank supervision and regulation. It is his job to decide the interest rates, and he meets with other bank presidents and board members. The Bank’s board of directors makes recommendations on the levels of discount rates.
Famous quotes containing the words federal, reserve and/or bank:
“Daniel as a lad bought a handkerchief on which the Federal Constitution was printed; it is said that at intervals while working in the meadows around this house, he would retire to the shade of the elms and study the Constitution from his handkerchief.”
—For the State of New Hampshire, U.S. public relief program (1935-1943)
“I do not know what right I have to so much happiness, but rather hold it in reserve till the time of my desert.”
—Henry David Thoreau (1817–1862)
“When she could hide him no longer she got a papyrus basket for him, and plastered it with bitumen and pitch; she put the child in it and placed it among the reeds on the bank of the river.”
—Bible: Hebrew, Exodus 2:3.