Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond Type: Independent Agencies Parent organization: Federal Reserve System Top organization: Employees: 1400 Executive: President and CEO Budget: Not publicly specified (self-funding organization) Address: 701 E Byrd St, Richmond, VA 23219 Website: https://www.richmondfed.org Creation Legislation: Federal Reserve Act of 1913 Wikipedia: Federal Reserve Bank of Richmond

Federal Reserve Bank of Richmond [{"name":"Federal Reserve Bank of Richmond","title":"\u003Ca class=\"mw-selflink selflink\"\u003EFederal Reserve Bank of Richmond\u003C\/a\u003E","lat":37.53568,"lon":-77.44059,"otherValues":{"HeadquartersAddress":"701 E Byrd St, Richmond, VA 23219"}}] This map created from a Cargo query ()

Mission To promote the stability, integrity, and efficiency of the U.S. economy and financial system. The Richmond Fed serves the Fifth Federal Reserve District by implementing monetary policy, supervising financial institutions, and providing payment services.

Services Monetary policy implementation; bank supervision; financial services; economic research; community development;

Regulations

Federal Reserve Bank of Richmond

File:Seal of the United States Federal Reserve System.svg Federal Reserve Seal
File:Federal Reserve and Riverfront Plaza (9743453366).jpg Headquarters
Headquarters	701 E Byrd St Richmond, Virginia, USA
Established	May 18, 1914 (1914-05-18)
President
Central bank of	Fifth District Template:Country data District of Columbia Template:Country data Maryland Template:Country data North Carolina Template:Country data South Carolina Template:Country data Virginia Parts of: Template:Country data West Virginia
Website	www.RichmondFed.org
The Federal Reserve Bank of Richmond is one of 12 regional banks that make up the Federal Reserve System

The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia excluding the Northern Panhandle. Branch offices are located in Baltimore, Maryland and Charlotte, North Carolina. Thomas I. Barkin became president of the Richmond Fed following the retirement of Jeffrey M. Lacker in April 2017. The previous president, J. Alfred Broaddus, retired in 2004.

History and Building

File:Richmond Fed map.png

Fifth District of the Federal Reserve

The Federal Reserve Bank of Richmond has had three locations in Downtown Richmond, Virginia. When it opened in 1914, it was located near the federal courts. From 1919 to 1921, a new building for the Federal Reserve was constructed at 100 North Ninth Street. The Fed offices existed here from 1921 until 1978, when they moved to their current location. The old 1921 Fed building is now used as the Supreme Court of Virginia, which moved to the location in 1978 from its former building at 1111 East Broad Street.

The current building, in the Central Office District, has an aluminum facade and was designed by Minoru Yamasaki, who also designed the former World Trade Center. Despite being one of the tallest buildings in the state, 49% of the building's total floor area is located underground. The building was proposed in 1972, and built from 1975 to 1978.

Economy

The Federal Reserve Bank of Richmond is the fourth-largest Federal Reserve Bank by assets held, after New York, San Francisco, and Atlanta, as of December 2018.

File:Federal Reserve Note Seal (Richmond).tif

Federal Reserve Note Seal (Richmond)

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Former presidents of the Richmond Fed (Left to Right: J. Alfred Broaddus Jr.; Robert P. Black; Jeffrey M. Lacker)

Branches

• Federal Reserve Bank of Richmond Baltimore Branch Office
• Federal Reserve Bank of Richmond Charlotte Branch Office

Board of directors

The following people serve on the board of directors as of 2021:

Class A

Name	Title	Term expires on December 31
Jennifer LaClair	Chief Financial Officer Ally Bank Charlotte, North Carolina	2023
James H. Sills, III	President and chief executive officer Mechanics and Farmers Bank Durham, North Carolina	2024
Alice P. Frazier	President and chief executive officer Bank of Charles Town Charles Town, West Virginia	2025

Class B

Name	Title	Term expires on December 31
Robert M. Blue	President and chief executive officer Dominion Energy Richmond, Virginia	2023
Nazzic Keene	Chief executive officer SAIC Reston, Virginia	2021
Wayne A. I. Frederick	President Howard University Washington, D.C.	2025

Class C

Name	Title	Term expires on December 31
Lisa M. Hamilton (vice chair)	President and chief executive officer The Annie E. Casey Foundation Baltimore, Maryland	2023
Halsey M. Cook	President and chief executive officer Milliken & Company Spartanburg, South Carolina	2024
Jodie McLean (chair)	Chief Executive Officer EDENS Washington, D.C.	2025

See also

• Federal Reserve Districts
• Federal Reserve Branches
• Federal Reserve Bank of Richmond Baltimore Branch Office
• Federal Reserve Bank of Richmond Charlotte Branch Office
• Federal Reserve System
• Federal Reserve Act
• Structure of the Federal Reserve System

External links

• Richmond Fed's home page
• Historical resources by and about the Federal Reserve Bank of Richmond including annual reports back to 1915

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