The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve. It covers the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia. Branch offices are located in Baltimore and Charlotte, North Carolina. The president as of 2005 is Jeffrey M. Lacker. The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the privately-operated central banking system of the United States. ... ... State nickname: Old Line State; Free State Other U.S. States Capital Annapolis Largest city Baltimore Governor Robert L. Ehrlich Official languages English Area 32,160 km² (42nd) - Land 25,338 km² - Water 6,968 km² (21%) Population (2000) - Population 5,296,486 (19th) - Density 165 /km² (5th) Admission into... State nickname: Old Dominion Other U.S. States Capital Richmond Largest city Virginia Beach Governor Mark R. Warner (D) Official languages English Area 110,862 km² (35th) - Land 102,642 km² - Water 8,220 km² (7. ... State nickname: Tar Heel State Other U.S. States Capital Raleigh Largest city Charlotte Governor Michael Easley (D) Official languages English Area 139,509 km² (28th) - Land 126,256 km² - Water 13,227 km² (9. ... State nickname: Palmetto State Other U.S. States Capital Columbia Largest city Columbia Governor Mark Sanford (R) Official languages English Area 82,965 km² (40th) - Land 78,051 km² - Water 4,915 km² (6%) Population (2000) - Population {{{2000Pop}}} (26th) - Density 51. ... State nickname: Mountain State Other U.S. States Capital Charleston Largest city Charleston Governor Joe Manchin (D) Official languages English Area 62,809 km² (41st) - Land 62,436 km² - Water 376 km² (0. ... This article is about the city in the US state of Maryland. ... For other places or people named Charlotte, see Charlotte (disambiguation). ...
The FederalReserveBank of Richmond'sBaltimore office is a provider of payment services, such as check collection and cash distribution, to the financial institutions in Maryland, the metropolitan Washington D.C. area, northern Virginia, northeastern West Virginia, and southern Pennsylvania.
The twelve regional FederalReserveBanks, which were established by the Congress as the operating arms of the nation's central banking system, are organized much like private corporations—possibly leading to some confusion about “ownership.” For example, the FederalReserveBanks issue shares of stock to member banks.
The FederalReserveBanks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the system.
The FederalReserve System was created by the FederalReserve Act of 1913 which "established a new central bank designed to add both flexibility and strength to the nation's financial system.
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