Federal Reserve Bank of Philadelphia

Stored: Federal Reserve Bank of Philadelphia

Federal Reserve Bank of Philadelphia Type: Independent Agencies Parent organization: Federal Reserve System Top organization: Employees: 900 Executive: President and CEO Budget: Not publicly specified (self-funding organization) Address: 10 Independence Mall, Philadelphia, PA 19106 Website: https://www.philadelphiafed.org Creation Legislation: Federal Reserve Act of 1913 Wikipedia: Federal Reserve Bank of Philadelphia

Federal Reserve Bank of Philadelphia [{"name":"Federal Reserve Bank of Philadelphia","title":"\u003Ca class=\"mw-selflink selflink\"\u003EFederal Reserve Bank of Philadelphia\u003C\/a\u003E","lat":39.95342,"lon":-75.15043,"otherValues":{"HeadquartersAddress":"10 Independence Mall, Philadelphia, PA 19106"}}] This map created from a Cargo query ()

Mission To promote the stability, integrity, and efficiency of the U.S. economy and financial system. The Philadelphia Fed serves the Third 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 Philadelphia

File:Seal of the United States Federal Reserve System.svg Federal Reserve Seal
File:Federal Reserve Bank Building Philadelphia.jpg Headquarters
Headquarters	10 Independence Mall Philadelphia, Pennsylvania, USA
Established	May 18, 1914 (1914-05-18)
President
Central bank of	Expand Third District Template:Country data Delaware Parts of: Template:Country data New Jersey Template:Country data Pennsylvania
Website	philadelphiafed.org
The Federal Reserve Bank of Philadelphia is one of 12 regional banks that make up the Federal Reserve System

The Federal Reserve Bank of Philadelphia — also known as the Philadelphia Fed or the Philly Fed — headquartered at 10 Independence Mall in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern and central Pennsylvania, the nine southern counties of New Jersey, and Delaware. Its geographical territory is by far the smallest in the system, and its population base is the second-smallest (next to the Federal Reserve Bank of Minneapolis). The current president of the Philadelphia Fed is Patrick T. Harker.

The Philadelphia Fed conducts research on both the national and regional economy. Its regional manufacturing index is the second of the regional manufacturing reports released every month (the New York Fed's Empire State Index is now released earlier), but it is still very important to the financial community as a proxy for nationwide manufacturing conditions. The Federal Reserve Bank of Philadelphia publishes a quarterly survey of professional economic forecasters, the Survey of Professional Forecasters, also called "The Anxious Index". It is a highly predictive report on the prospects for the Economy of the United States. It also publishes a quarterly publication entitled Business Review. The Federal Reserve Bank of Philadelphia also publishes the Livingston Survey and the Greenbook data sets.

Board of directors

The following people serve on the board of directors as of July 2023. Terms expire on December 31 of their final year on the board.

File:Philadelphia Fed map.png

Map of the Third District

File:Federal Reserve Bank of Philadelphia.jpg

Lobby of the Federal Reserve Bank of Philadelphia. The lobby features a 25-foot (7.6 m) tower filled with shredded U.S. currency

File:FRS PHIL cent grp 121613 0543 02837 (13896574697).jpg

Former Presidents of the Philadelphia Fed (left to right) Edward Boehne (1981–2000), Charles Plosser (2006–2015), and Anthony Santomero (2000–2006)

Class A

Class A

Name	Title	Term Expires
Randall E. Black	President and chief executive officer Citizens Financial Services Inc. and First Citizens Community Bank Mansfield, Pennsylvania	2023
Timothy Snyder	President and chief executive officer Fleetwood Bank Fleetwood, Pennsylvania	2024
Christopher D. Maher	Chairman and chief executive officer OceansBank First, N.A. Toms River, New Jersey	2025

Class B

Class B

Name	Title	Term Expires
Bret S. Perkins	Senior vice president, external and government affairs Comcast Corporation Philadelphia, Pennsylvania	2023
Julia H. Klein	Chairwoman and chief operating officer C.H. Briggs Company Reading, Pennsylvania	2024
John Fry	President Drexel University Philadelphia, Pennsylvania	2025

Class C

Class C

Name	Title	Term Expires
William Lo	President Crystal Steel Fabricators, Inc. Delmar, Delaware	2023
Sharmain Matlock-Turner (Deputy Chair)	President and chief executive officer Urban Affairs Coalition Philadelphia, Pennsylvania	2024
Anthony Ibargüen (Chair)	Chief executive officer Quench USA, Inc. King of Prussia, Pennsylvania	2025

See also

• Federal Reserve System
• Federal Reserve Districts
• Federal Reserve Branches
• Federal Reserve Act
• Old Federal Reserve Bank Building (Philadelphia)
• Structure of the Federal Reserve System

References

Notes

External links

• The Philadelphia Fed's home page
• A map of the third district Archived 2008-03-05 at the Wayback Machine
• Public Statements of Karl Bopp, former President of the Federal Reserve Bank of Philadelphia
• Public Statements of David P. Eastburn, former President of the Federal Reserve Bank of Philadelphia

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