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:
“The Federal Constitution has stood the test of more than a hundred years in supplying the powers that have been needed to make the Central Government as strong as it ought to be, and with this movement toward uniform legislation and agreements between the States I do not see why the Constitution may not serve our people always.”
—William Howard Taft (1857–1930)
“If a walker is indeed an individualist there is nowhere he can’t go at dawn and not many places he can’t go at noon. But just as it demeans life to live alongside a great river you can no longer swim in or drink from, to be crowded into safer areas and hours takes much of the gloss off walking—one sport you shouldn’t have to reserve a time and a court for.”
—Edward Hoagland (b. 1932)
“... an adamantine island chained to the shifting bank of the Channel.”
—Christina Stead (1902–1983)
“If you have any information or evidence regarding the O.J. Simpson case, press 2 now. If you are an expert in fields relating to the O.J. Simpson case and would like to offer your services, press 3 now. If you would like the address where you can send a letter of support to O.J. Simpson, press 1 now. If you are seeking legal representation from the law offices of Robert L. Shapiro, press 4 now.”
—Advertisement. Aired August 8, 1994 by Tom Snyder on TV station CNBC. Chicago Sun Times, p. 11 (July 24, 1994)