USApedia

Federal Reserve Bank of San Francisco: Difference between revisions

Page Discussion

Federal Reserve Bank of San Francisco (view source)

Revision as of 21:50, 8 April 2025

1,606 bytes removed ,  8 April
no edit summary
VisualWikitext
m (→‎Buildings: Fixed redirect)
 
No edit summary
 
(5 intermediate revisions by 2 users not shown)
Line 1: Line 1:
{{Organization
|OrganizationName=Federal Reserve Bank of San Francisco
|OrganizationType=Independent Agencies
|Mission=The Board of Governors leads the Federal Reserve System, setting monetary policy, supervising and regulating banks, and maintaining the stability of the financial system. Its mission is to foster maximum employment, stable prices, and moderate long-term interest rates.
|ParentOrganization=Federal Reserve System
|CreationLegislation=Federal Reserve Act of 1913
|Employees=3000
|Budget=Self-funded through assessments on Federal Reserve Banks; operating expenses in 2023 were about $8.0 billion for the entire system
|OrganizationExecutive=Chair of the Board of Governors
|Services=Monetary policy formulation; Bank supervision; Financial stability oversight; Economic research
|Regulations=Federal Reserve Act; Bank Holding Company Act; Dodd-Frank Wall Street Reform and Consumer Protection Act; among others
|HeadquartersLocation=37.78518, -122.40686
|HeadquartersAddress=101 Market St, San Francisco, CA 94105
|Website=https://www.federalreserve.gov
}}
{{Short description|Member Bank of Federal Reserve}}
{{Short description|Member Bank of Federal Reserve}}
{{Infobox central bank
| name = Federal Reserve Bank of San Francisco
| image_1 = [[File:Seal of the United States Federal Reserve System.svg|126px]]
| image_title_1 = Federal Reserve Seal
| image_2 = [[File:Federal Reserve Bank of San Francisco - panoramio.jpg|250px]]
| image_title_2 = Headquarters
| headquarters = 101 Market Street <br />[[San Francisco]], [[California]], [[United States of America|USA]]
| coordinates = <!-- use {{coord}} -->
| established = {{Start date and age|p=y|1914|5|18}}
| ownership = <!-- Government owned or private co. -->
| executive_title = President
| executive = [[Mary C. Daly]]
| bank_of = {{Collapsible list |title=Twelfth District |{{flag|Alaska}} |{{flag|American Samoa}} |{{flag|Arizona}} |{{flag|California}} |{{flag|Guam}} |{{flag|Hawaii}} |{{flag|Idaho}} |{{flag|Nevada}} |{{flag|Northern Mariana Islands}} |{{flag|Oregon}} |{{flag|Utah}} |{{flag|Washington}}}}
| currency =
| currency_iso = <!-- see [[ISO 4217]] -->
| reserves =
| reserve_requirements = <!-- % of reserves required to be held against deposits, or "None" if there are no such requirements -->
| borrowing_rate = <!-- the bank rate, also known as the discount rate in American English -->
| interest_rate_target = <!-- the target interest rate, or target interest rate range -->
| deposit_rate = <!-- % of interest paid on reserves, if any, or "None" if no interest is ever paid on reserves -->
| excess_reserves = <!-- "yes" or "no" reg. interest on excess reserves - or "not applicable - no reserve requirement" if there is no reserve requirement -->
| website = [https://www.frbsf.org/ frbsf.org]
| predecessor =
| successor =
| footnotes = The Federal Reserve Bank of San Francisco is one of 12 [[Federal Reserve Bank|regional banks]] that make up the [[Federal Reserve System]]
}}


The '''Federal Reserve Bank of San Francisco''' (informally referred to as the '''San Francisco Fed''') is the [[Federal Reserve|federal bank]] for the twelfth district in the [[United States]]. The twelfth district is made up of nine western [[U.S. state|states]]—[[Alaska]], [[Arizona]], [[California]], [[Hawaii]], [[Idaho]], [[Nevada]], [[Oregon]], [[Utah]], and [[Washington (state)|Washington]]—plus the [[Northern Mariana Islands]], [[American Samoa]], and [[Guam]]. The San Francisco Fed has branch offices in [[Los Angeles]], [[Portland, Oregon|Portland]], [[Salt Lake City]], and [[Seattle]]. It also has a cash processing center in [[Phoenix, Arizona|Phoenix]].
The '''Federal Reserve Bank of San Francisco''' (informally referred to as the '''San Francisco Fed''') is the [[Federal Reserve|federal bank]] for the twelfth district in the [[United States]]. The twelfth district is made up of nine western [[U.S. state|states]]—[[Alaska]], [[Arizona]], [[California]], [[Hawaii]], [[Idaho]], [[Nevada]], [[Oregon]], [[Utah]], and [[Washington (state)|Washington]]—plus the [[Northern Mariana Islands]], [[American Samoa]], and [[Guam]]. The San Francisco Fed has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash processing center in [[Phoenix, Arizona|Phoenix]].


The twelfth district is the nation's largest by area and population, covering {{convert|1.3|e6sqmi|e6km2|abbr=unit}}, or 36% of the nation's area, and 60 million people. The Federal Reserve Bank of San Francisco is the second-largest by assets held, after [[Federal Reserve Bank of New York|New York]].<ref>[http://www.federalreserve.gov/releases/h41/ Release Dates]</ref> In 2004 the San Francisco Fed processed 20.8 billion [[currency]] notes and 1.5 billion commercial checks.{{Citation needed|date=November 2017}}
The twelfth district is the nation's largest by area and population, covering {{convert|1.3|e6sqmi|e6km2|abbr=unit}}, or 36% of the nation's area, and 60 million people. The Federal Reserve Bank of San Francisco is the second-largest by assets held, after [[Federal Reserve Bank of New York|New York]].<ref>[http://www.federalreserve.gov/releases/h41/ Release Dates]</ref> In 2004 the San Francisco Fed processed 20.8 billion [[currency]] notes and 1.5 billion commercial checks.{{Citation needed|date=November 2017}}
Line 33: Line 22:
The Federal Reserve Bank in San Francisco has one of the largest collections of US paper money in the United States, which is displayed in the American Currency Exhibit.{{Citation needed|date=November 2017}}
The Federal Reserve Bank in San Francisco has one of the largest collections of US paper money in the United States, which is displayed in the American Currency Exhibit.{{Citation needed|date=November 2017}}


[[Mary C. Daly]] serves as the President and CEO as of October 1, 2018.<ref>{{Cite web|url=https://www.frbsf.org/our-district/leadership/office-of-the-president/|title=Office of the President|website=Federal Reserve Bank of San Francisco|language=en|access-date=2020-02-29}}</ref>  Notable former Presidents include [[John C. Williams (economist)|John C. Williams]] (2011-2018), who now holds the same role at the [[Federal Reserve Bank of New York]]<ref>{{Cite web|url=https://www.newyorkfed.org/aboutthefed/orgchart/williams|title=Office of the President - FEDERAL RESERVE BANK of NEW YORK|website=www.newyorkfed.org|access-date=2020-02-29}}</ref> and is Vice Chairman of the [[Federal Open Market Committee]],<ref>{{Cite web|url=https://www.federalreserve.gov/monetarypolicy/fomc.htm|title=The Fed - Federal Open Market Committee|website=Board of Governors of the Federal Reserve System|language=en|access-date=2020-02-29}}</ref> as well as [[Janet Yellen]] (2004-2010), who held the role of [[Chair of the Federal Reserve|Chair of the Board of Governors]] from 2014-2018.<ref>{{Cite web|url=https://www.federalreservehistory.org/people/janet_l_yellen|title=Janet L. Yellen {{!}} Federal Reserve History|website=www.federalreservehistory.org|access-date=2020-02-29}}</ref>
Mary C. Daly serves as the President and CEO as of October 1, 2018.<ref>{{Cite web|url=https://www.frbsf.org/our-district/leadership/office-of-the-president/|title=Office of the President|website=Federal Reserve Bank of San Francisco|language=en|access-date=2020-02-29}}</ref>  Notable former Presidents include John C. Williams (2011-2018), who now holds the same role at the [[Federal Reserve Bank of New York]]<ref>{{Cite web|url=https://www.newyorkfed.org/aboutthefed/orgchart/williams|title=Office of the President - FEDERAL RESERVE BANK of NEW YORK|website=www.newyorkfed.org|access-date=2020-02-29}}</ref> and is Vice Chairman of the [[Federal Open Market Committee]],<ref>{{Cite web|url=https://www.federalreserve.gov/monetarypolicy/fomc.htm|title=The Fed - Federal Open Market Committee|website=Board of Governors of the Federal Reserve System|language=en|access-date=2020-02-29}}</ref> as well as Janet Yellen (2004-2010), who held the role of [[Chair of the Federal Reserve|Chair of the Board of Governors]] from 2014-2018.<ref>{{Cite web|url=https://www.federalreservehistory.org/people/janet_l_yellen|title=Janet L. Yellen {{!}} Federal Reserve History|website=www.federalreservehistory.org|access-date=2020-02-29}}</ref>


==History==
==History==
The San Francisco Federal Reserve Bank opened for business in rented quarters at the rear of the Merchants National Bank on November 16, 1914, in order to make the reserve provisions of the [[Federal Reserve Act]]. In 1924, the San Francisco staff moved out of temporary locations and into the Bank's newly built headquarters at 400 Sansome Street, a location that it would occupy for the next 60 years. In 1983, the bank relocated to 101 Market Street.
The San Francisco Federal Reserve Bank opened for business in rented quarters at the rear of the Merchants National Bank on November 16, 1914, in order to make the reserve provisions of the [[Federal Reserve Act]]. In 1924, the San Francisco staff moved out of temporary locations and into the Bank's newly built headquarters at 400 Sansome Street, a location that it would occupy for the next 60 years. In 1983, the bank relocated to 101 Market Street.
[[Image:Federal Reserve Districts Map.svg|thumb|right|Federal reserve districts, of which the 12th is largest and most populous]]
[[Image:San Francisco Fed map.png|thumb|right|Map of the Twelfth District]]
[[Image:San Francisco Fed map.png|thumb|right|Map of the Twelfth District]]


Line 132: Line 120:
|-
|-
! #
! #
! Portrait
! CEO
! CEO
! Life span
! Life span
Line 140: Line 127:
! Ref
! Ref
|-
|-
|align="center" Colspan="18" style="background: #000000"|'''<span style="color:white">Governors</span>'''
| colspan="17" align="center" style="background: #000000" |'''<span style="color:white">Governors</span>'''
|-
|-
| 1
| 1
| [[File:Archibald C. Kains, official portrait.jpg|80px]]
| Archibald C. Kains
| Archibald C. Kains
| 1865–1944
| 1865–1944
Line 152: Line 138:
|-
|-
| 2
| 2
| [[File:James K. Lynch, official portrait.jpg|80px]]
|bgcolor="#ddffdd"| James K. Lynch*
|bgcolor="#ddffdd"| James K. Lynch*
| 1857–1919
| 1857–1919
Line 161: Line 146:
|-
|-
| 3
| 3
| [[File:John U. Calkins, official portrait.jpg|80px]]
| John U. Calkins
| John U. Calkins
| 1863–1954
| 1863–1954
Line 169: Line 153:
|align="center"|<ref>{{cite web|title=John U. Calkins|publisher=Federal Reserve History|access-date=May 5, 2021|url=https://www.federalreservehistory.org/people/john-u-calkins}}</ref>
|align="center"|<ref>{{cite web|title=John U. Calkins|publisher=Federal Reserve History|access-date=May 5, 2021|url=https://www.federalreservehistory.org/people/john-u-calkins}}</ref>
|-
|-
|align="center" Colspan="18" style="background: #4169E1"|'''<span style="color:white">Presidents</span>'''
| colspan="17" align="center" style="background: #4169E1" |'''<span style="color:white">Presidents</span>'''
|-
|-
| 4
| 4
| [[File:William A. Day, official portrait.jpg|80px]]
| William A. Day
| William A. Day
| 1876–1951
| 1876–1951
Line 181: Line 164:
|-
|-
| 5
| 5
| [[File:Ira Clerk, official portrait.jpg|80px]]
|bgcolor="#ddffdd"| Ira Clerk*
|bgcolor="#ddffdd"| Ira Clerk*
| 1885–1946
| 1885–1946
Line 190: Line 172:
|-
|-
| 6
| 6
| [[File:C. E. Earhart, official portrait.jpg|80px]]
| C. E. Earhart
| C. E. Earhart
| 1890–1982
| 1890–1982
Line 199: Line 180:
|-
|-
| 7
| 7
| [[File:Hermann N. Mangels, official portrait.jpg|80px]]
| Hermann N. Mangels
| Hermann N. Mangels
| 1897–1961
| 1897–1961
Line 208: Line 188:
|-
|-
| 8
| 8
| [[File:Eliot J. Swan, official portrait.jpg|80px]]
| Eliot J. Swan
| Eliot J. Swan
| 1911–1998
| 1911–1998
Line 217: Line 196:
|-
|-
| 9
| 9
| [[File:John J. Balles, official portrait.jpg|80px]]
|bgcolor=#FFE6BD| John J. Balles†
|bgcolor=#FFE6BD| John J. Balles†
| 1921–2005
| 1921–2005
Line 226: Line 204:
|-
|-
| 10
| 10
| [[File:Robert T. Parry, official portrait.jpg|80px]]
|bgcolor=#FFE6BD| Robert T. Parry†
|bgcolor=#FFE6BD| Robert T. Parry†
| 1939-
| 1939-
Line 235: Line 212:
|-
|-
| 11
| 11
| [[File:Janet yellen.jpg|80px]]
| [[Janet Yellen]]
| [[Janet Yellen]]
| 1946–
| 1946–
Line 244: Line 220:
|-
|-
| 12
| 12
| [[File:Sf williams.jpg|80px]]
| [[John C. Williams (economist)|John C. Williams]]
| [[John C. Williams (economist)|John C. Williams]]
| 1962–
| 1962–
Line 253: Line 228:
|-
|-
| 13
| 13
| [[File:David Schweikert and Mary C. Daly 02.jpg|80px]]
| [[Mary C. Daly]]
| [[Mary C. Daly]]
| 1962-
| 1962-
Retrieved from ‘https://openusaproject.com/wiki/Special:MobileDiff/9164...32252’