The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

located in

Richmond, Virginia (Thus do we reach the stars) , image_map = , mapsize = 250 px , map_caption = Location within Virginia , pushpin_map = Virginia#USA , pushpin_label = Richmond , pushpin_m ...

. It covers the

District of Columbia ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

South Carolina )''Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = " Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = ...

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

, and most of

West Virginia West Virginia is a state in the Appalachian, Mid-Atlantic and Southeastern regions of the United States.The Census Bureau and the Association of American Geographers classify West Virginia as part of the Southern United States while the Bur ...

excluding the

Northern Panhandle The Northern Panhandle is the northern of the two panhandles in the U.S. state of West Virginia. It is a culturally and geographically distinct region of the state. It is the state's northernmost extension, bounded by Ohio and the Ohio River ...

. Branch offices are located in

Baltimore, Maryland Baltimore ( , locally: or ) is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic (United States), Mid-Atlantic, and List of United States cities by popula ...

and

Charlotte, North Carolina Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...

. Thomas I. Barkin became president of the Richmond Fed following the retirement of

Jeffrey M. Lacker Jeffrey M. Lacker (born September 27, 1955) is an American economist and was president of the Federal Reserve Bank of Richmond until April 4, 2017. He is now a Distinguished Professor in thDepartment of Economicsat the Virginia Commonwealth Unive ...

in April 2017. The previous president, J. Alfred Broaddus, retired in 2004.

History and Building

The Federal Reserve Bank of Richmond has had three locations in

Downtown Richmond, Virginia Downtown Richmond is the central business district of Richmond, Virginia. It is generally defined as being bound by Belvidere Street to the west, I-95 to the north and east, and the James River to the south. The Fan district borders it to t ...

. 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 The Supreme Court of Virginia is the highest court in the Commonwealth of Virginia. It primarily hears direct appeals in civil cases from the trial-level city and county circuit courts, as well as the criminal law, family law and administrative ...

, which moved to the location in 1978 from its former

building A building, or edifice, is an enclosed structure with a roof and walls standing more or less permanently in one place, such as a house or factory (although there's also portable buildings). Buildings come in a variety of sizes, shapes, and fun ...

at 1111 East Broad Street. The current building has an aluminum facade and was designed by

Minoru Yamasaki was an American architect, best known for designing the original World Trade Center in New York City and several other large-scale projects. Yamasaki was one of the most prominent architects of the 20th century. He and fellow architect Edward D ...

, who also designed the former

World Trade Center World Trade Centers are sites recognized by the World Trade Centers Association. World Trade Center may refer to: Buildings * List of World Trade Centers * World Trade Center (2001–present), a building complex that includes five skyscrapers, a ...

. 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 New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * '' ...

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

, and

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

, as of December 2018.

Branches

Federal Reserve Bank of Richmond Baltimore Branch Office The Federal Reserve Bank of Richmond Baltimore Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. The Federal Reserve Bank of Richmond's Baltimore Branch is an operational and regional center for Maryland, the metropol ...

Federal Reserve Bank of Richmond Charlotte Branch Office The Federal Reserve Bank of Richmond Charlotte Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. Established in 1927, The Federal Reserve Bank of Richmond's Charlotte Branch is an operational and regional center for t ...

Board of Directors

The following people serve on the board of directors :

Class A

Class B

Class C

References

External links

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

Richmond Richmond most often refers to: * Richmond, Virginia, the capital of Virginia, United States * Richmond, London, a part of London * Richmond, North Yorkshire, a town in England * Richmond, British Columbia, a city in Canada * Richmond, California, ...

Bank buildings in Virginia Skyscrapers in Richmond, Virginia Skyscraper office buildings in Virginia Economy of Richmond, Virginia Economy of the Northeastern United States Economy of the Southeastern United States Government buildings completed in 1978 1978 establishments in Michigan Minoru Yamasaki buildings {{US-gov-stub