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The Federal Reserve Bank of Richmond is led by president and CEO Tom Barkin. The Fifth Federal Reserve District, headquartered in Richmond, includes South Carolina, North Carolina, Virginia, D.C., West Virginia and Maryland.
Each member of the Board of Governors is appointed for a 14-year term; the terms are staggered so that one term expires on January 31 of each even-numbered year. After serving a full 14-year term, a Board member may not be reappointed.
The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
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The New York Federal Reserve district is the largest by asset value. San Francisco, followed by Kansas City and Minneapolis, represent the largest geographical districts. Missouri is the only state to have two Federal Reserve Banks (Kansas City and St.
The process for selecting a Federal Reserve Bank president is set forth in the Federal Reserve Act. Subject to the approval of the Federal Reserve Board of Governors, the president is appointed by the Reserve Banks Class B and C directors (those directors who are not affiliated with a supervised entity).
Federal Reserve Indicators IndicatorBank A1 Boston B2 New York City C3 Philadelphia D4 Cleveland
Federal Reserve Bank of San Francisco The San Francisco Federal Reserve Bank serves the Twelfth Federal Reserve District, which consists of Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, Washington, Guam, American Samoa, and the Northern Mariana Islands.
On October 7, 2008, the Federal Reserve further expanded the collateral it will loan against, to include commercial paper. The action made the Fed a crucial source of credit for non-financial businesses in addition to commercial banks and investment firms.

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