Federal Reserve Bank of Atlanta
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The Federal Reserve Bank of Atlanta, (informally referred to as the Atlanta Fed and the Bank), is the sixth district of the 12
Federal Reserve Banks A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve A ...
of the United States and is headquartered in midtown
Atlanta, Georgia 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 ...
. The Atlanta Fed covers the U.S. states of
Alabama (We dare defend our rights) , anthem = "Alabama (state song), Alabama" , image_map = Alabama in United States.svg , seat = Montgomery, Alabama, Montgomery , LargestCity = Huntsville, Alabama, Huntsville , LargestCounty = Baldwin County, Al ...
,
Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
, and
Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...
, the eastern two-thirds of
Tennessee Tennessee ( , ), officially the State of Tennessee, is a landlocked state in the Southeastern region of the United States. Tennessee is the 36th-largest by area and the 15th-most populous of the 50 states. It is bordered by Kentucky to th ...
, the southern portion of
Louisiana Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is borde ...
, and southern
Mississippi Mississippi () is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Miss ...
as part of the
Federal Reserve System 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 ...
. Along with its Atlanta headquarters, the Banks operates five branches with the sixth district, which are located in
Birmingham Birmingham ( ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the West ...
,
Jacksonville Jacksonville is a city located on the Atlantic coast of northeast Florida, the most populous city proper in the state and is the List of United States cities by area, largest city by area in the contiguous United States as of 2020. It is the co ...
,
Miami Miami ( ), officially the City of Miami, known as "the 305", "The Magic City", and "Gateway to the Americas", is a East Coast of the United States, coastal metropolis and the County seat, county seat of Miami-Dade County, Florida, Miami-Dade C ...
,
Nashville Nashville is the capital city of the U.S. state of Tennessee and the seat of Davidson County. With a population of 689,447 at the 2020 U.S. census, Nashville is the most populous city in the state, 21st most-populous city in the U.S., and the ...
, and
New Orleans New Orleans ( , ,New Orleans
Merriam-Webster.
; french: La Nouvelle-Orléans , es, Nuev ...
. These branches provide cash to
bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...
s,
savings and loan Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an I ...
s, and other depository institutions; transfer money electronically; and clear millions of
check Check or cheque, may refer to: Places * Check, Virginia Arts, entertainment, and media * ''Check'' (film), a 2021 Indian Telugu-language film * ''The Checks'' (episode), a 1996 TV episode of ''Seinfeld'' Games and sports * Check (chess), a thr ...
s. In addition to supporting the U.S. financial system, the Atlanta Fed carries out the supervision and regulation of the banks operating within the sixth district. It also is a source of research and expertise for public and private decision makers within the district. In recent years, researchers within the Atlanta Fed have innovated new tools to gauge the health of the macro U.S. economy, the two most notable are GDPNow and Wage Growth Tracker. The Atlanta Fed is currently led by Dr. Raphael Bostic, who was appointed in 2017 and is a member of the Federal Open Market Committee (FOMC), the committee that makes key decisions about interest rates and the growth of the United States money supply.


Responsibilities and functions

The Atlanta Fed's footprint covers the southeastern U.S., including the states of
Alabama (We dare defend our rights) , anthem = "Alabama (state song), Alabama" , image_map = Alabama in United States.svg , seat = Montgomery, Alabama, Montgomery , LargestCity = Huntsville, Alabama, Huntsville , LargestCounty = Baldwin County, Al ...
,
Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...
, and
Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...
, 74 counties in the eastern two-thirds of
Tennessee Tennessee ( , ), officially the State of Tennessee, is a landlocked state in the Southeastern region of the United States. Tennessee is the 36th-largest by area and the 15th-most populous of the 50 states. It is bordered by Kentucky to th ...
, 38 parishes of southern
Louisiana Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is borde ...
, and 43 counties of southern
Mississippi Mississippi () is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Miss ...
as part of the
Federal Reserve System 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 ...
. The Atlanta Fed, along with the other 11 regional district banks, has three primary functions: assisting with
monetary policy Monetary policy is the policy adopted by the monetary authority of a nation to control either the interest rate payable for very short-term borrowing (borrowing by banks from each other to meet their short-term needs) or the money supply, often a ...
, operation of nationwide
payment system A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago ...
, and administering bank supervision and regulation. Its job is to decide the
interest rate An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...
s, and the president meets with other bank presidents and board members. The bank's
board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...
makes recommendations on the levels of discount rates. Secondarily, the Atlanta Fed is a source of research and expertise for public and private decision makers within the district. Researchers within the Atlanta Fed have innovated new tools to gauge the health of the macro U.S. economy, the two most notable are GDPNow Wage Growth Tracker. The Atlanta Fed's GDPNow, which is a "nowcasting" model for gross domestic product (GDP) growth that synthesizes the related GDP subcomponents with monthly source data prior to the formal GDP release by the
Bureau of Economic Analysis The Bureau of Economic Analysis (BEA) of the United States Department of Commerce is a U.S. government agency that provides official economy of the United States, macroeconomic and industry statistics, most notably reports about the gross domestic ...
, is widely followed by financial markets. The Wage Growth Tracker is a measure of the nominal wage growth of individuals, using microdata from the Current Population Survey (CPS) from the
Bureau of Labor Statistics The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of t ...
.


Leadership

The Bank is governed by a Board of Directors, which is drawn from the sixth district's business community, banks, and labor and consumer organizations, and makes recommendations every two weeks on the level of the discount rate, which is the rate at which the Bank lends to commercial banks. The Bank's staff is led by Dr. Raphael Bostic, who was appointed in 2017 and is member of the Federal Open Market Committee (FOMC).


Governors and presidents

With the appointment of President Bostic in 2017, there have been 15 chief executive officers of the Atlanta Fed. The title of Reserve Bank chief executive officer was changed to president by the
Banking Act of 1935 The ''Banking Act of 1935'' passed on August 19, 1935 and was signed into law by the president, Franklin D. Roosevelt, on August 23. The Act changed the structure and power distribution in the Federal Reserve System that began with the '' Banking ...
.


Board of directors

The following people are on the board of directors :"Federal Reserve Bank of Atlanta Directors"
FRB Atlanta webpage.
All terms expire on December 31.


Headquarters

Since 2001, the Atlanta Fed has been located at 1000
Peachtree Street Peachtree Street is one of several major streets running through the city of Atlanta. Beginning at Five Points (Atlanta), Five Points in downtown Atlanta, it runs North through Midtown Atlanta, Midtown; a few blocks after entering into Buckhead ...
NE in
Midtown Atlanta Midtown Atlanta, or Midtown, is a high-density commercial and residential neighborhood of Atlanta, Georgia. The exact geographical extent of the area is ill-defined due to differing definitions used by the city, residents, and local business ...
. Prior to 2001, the bank was located in
downtown Atlanta Downtown Atlanta is the central business district of Atlanta, Georgia, United States. The larger of the city's two other commercial districts ( Midtown and Buckhead), it is the location of many corporate and regional headquarters; city, county, s ...
at 104
Marietta Marietta may refer to: Places in the United States *Marietta, Jacksonville, Florida *Marietta, Georgia, the largest US city named Marietta *Marietta, Illinois *Marietta, Indiana *Marietta, Kansas *Marietta, Minnesota *Marietta, Mississippi *Mar ...
Street NW, which is now the home of the State Bar of Georgia. The bank hosts the Atlanta Monetary Museum at its building.


Branches

*
Federal Reserve Bank of Atlanta Birmingham Branch Office The Federal Reserve Bank of Atlanta Birmingham Branch Office is one of the five Federal Reserve Bank of Atlanta branch offices. The Birmingham branch is part of the 6th District. The Birmingham Branch no longer conducts tours. Current Board of Di ...
*
Federal Reserve Bank of Atlanta Jacksonville Branch Office The Federal Reserve Bank of Atlanta Jacksonville Branch Office is one of the five Federal Reserve Bank of Atlanta branch offices. The Jacksonville branch is part of the 6th District. The Jacksonville Branch currently conducts tours by appointment. ...
*
Federal Reserve Bank of Atlanta Miami Branch Office The Federal Reserve Bank of Atlanta Miami Branch Office is one of the five Federal Reserve Bank of Atlanta branch offices. The Miami branch is part of the 6th District. The Miami Branch, located in Doral, Florida,
*
Federal Reserve Bank of Atlanta New Orleans Branch Office The Federal Reserve Bank of Atlanta New Orleans Branch Office is one of the five Federal Reserve Bank of Atlanta branch offices. The New Orleans branch is part of the 6th District. This branch also has a dedicated hurricane Katrina staff. The New ...
*
Federal Reserve Bank of Atlanta Nashville Branch Office The Federal Reserve Bank of Atlanta Nashville Branch Office is one of the five Federal Reserve Bank of Atlanta branch offices. The Nashville branch is part of the 6th District. The Nashville Branch currently conducts tours by appointment. Admissio ...


See also

*
Federal Reserve Act The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States. The Pani ...
*
Federal Reserve Bank A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve A ...
*
Federal Reserve Branches There are 24 Federal Reserve branches. There were 25 branches but in October 2008 the Federal Reserve Bank of New York Buffalo Branch was closed. List of Federal Reserve branches * Boston * New York ** '' Federal Reserve Bank of New York Buffal ...
*
Federal Reserve Districts A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve ...
*
Federal Reserve System 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 ...
* Structure of the Federal Reserve System


References


External links


Federal Reserve Bank of Atlanta



Historical resources by and about the Federal Reserve Bank of Atlanta
including annual reports back to 1915 {{Authority control
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 ...
Economy of the Southeastern United States Robert A. M. Stern buildings New Classical architecture