The Federal Reserve Bank of Chicago (informally the Chicago Fed) is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Chicago Reserve Bank serves the Seventh Federal Reserve District, which encompasses the northern portions of Illinois and Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and the state of Iowa. In addition to participation in the formulation of monetary policy, each Reserve Bank supervises member banks and bank holding companies, provides financial services to depository institutions and the U.S. government, and monitors economic conditions in its District.
Read more about Federal Reserve Bank Of Chicago: Responsibilities, Leadership, Current Board of Directors, Money Museum, Branches
Famous quotes containing the words federal, reserve, bank and/or chicago:
“Prestige is the shadow of money and power. Where these are, there it is. Like the national market for soap or automobiles and the enlarged arena of federal power, the national cash-in area for prestige has grown, slowly being consolidated into a truly national system.”
—C. Wright Mills (1916–1962)
“Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are cheques drawn on insufficient funds.”
—René Daumal (1908–1944)
“We bank over Boston. I am safe. I put on my hat.
I am almost someone going home. The story has ended.”
—Anne Sexton (1928–1974)
“You want to get Capone? Here’s how you get him: he pulls a knife, you pull a gun, he sends one of yours to the hospital, you send one of his to the morgue. It’s the Chicago way and that’s how you get Capone.”
—David Mamet, U.S. screenwriter, and Brian DePalma. Jimmy Malone (Sean Connery)