Federal Reserve Bank of Kansas City
What Is the Federal Reserve Bank of Kansas City?
The Federal Reserve Bank of Kansas City is one of 12 reserve banks in the Federal Reserve System (FRS). Casually alluded to as the Kansas City Fed, it is responsible for the 10th district, which covers Colorado, Kansas, Nebraska, Oklahoma, and Wyoming, a well as 43 counties in western Missouri and 14 counties in northern New Mexico. The Kansas City Fed is situated in Kansas City, Mo, and has branches in Denver, Oklahoma City and Omaha.
Understanding the Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City carries out inside its geographical coverage area the general functions of the Federal Reserve System: directing monetary policy, advancing stability of the financial system, keeping a safe and efficient payments system, managing and regulating banks, and protecting consumers and the community.
The Kansas City Fed conducts research on economic improvements in its domain, giving contribution (alongside the other regional Feds) into national policy. It likewise manages and regulates banks in its region, a critical function for financial system stability.
Furthermore, the Kansas City Fed upholds the payments system through activities like monitoring regional demand for currency and coin, distributing new currency and supplanting worn currency, and distinguishing fake currency. Every one of the regional Feds prints currency. Bank notes printed by the Federal Reserve Bank of Kansas City are indicated by the mark "J10", addressing the 10th district (J is likewise the 10th letter of the alphabet).
The Federal Reserve Bank of Kansas City is the second-biggest reserve bank in terms of a geographical area, behind the Federal Reserve Bank of San Francisco. Esther L. George has filled in as president and chief executive officer of the Kansas City Fed since October 2011. She is 10th leader of the Kansas City Fed.
In 2021, George is scheduled to turn into an alternate voting member on the monetary policy-setting Federal Open Market Committee (FOMC).
Organization and Characteristics
The Kansas City Fed is unique among the regional Feds in having a high concentration of community banks — for example banks which borrow from and loan to the networks where they operate as opposed to being part of a multi-bank holding company — inside its geographic coverage area.
Due to the location of the 10th district in the vigorously agricultural Great Plains region, agricultural lending and credit markets are particularly important to the Kansas City Fed. It distributes a quarterly Survey of Agricultural Credit Conditions for the 10th district, as well as a national Agricultural Finance Databook.
Highlights
- It serves the 10th district, covering quite a bit of America's heartland.
- The Federal Reserve Bank of Kansas City is one of twelve reserve banks in the Federal Reserve System.
- The Kansas City Fed is settled in Kansas City, Mo, and has branch offices in Denver, Oklahoma City and Omaha.
