Federal Reserve Bank of Richmond
 Federal Reserve Seal | |
.jpg) Headquarters | |
| Headquarters | 701 E Byrd St Richmond, Virginia, USA |
|---|---|
| Established | May 18, 1914 |
| President | Thomas I. Barkin |
| Central bank of | Fifth District |
| Website | www.RichmondFed.org |
| The Federal Reserve Bank of Richmond is one of 12 regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia excluding the Northern Panhandle. Branch offices are located in Baltimore, Maryland and Charlotte, North Carolina. Thomas I. Barkin became president of the Richmond Fed following the retirement of Jeffrey M. Lacker in April 2017.[1] The previous president, J. Alfred Broaddus, retired in 2004.[2]
History and Building
[edit]
The Federal Reserve Bank of Richmond has had three locations in Downtown Richmond, Virginia. 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.[3] The old 1921 Fed building is now used as the Supreme Court of Virginia, which moved to the location in 1978 from its former building at 1111 East Broad Street.
The current building, in the Central Office District, has an aluminum facade and was designed by Minoru Yamasaki, who also designed the former World Trade Center.[4] Despite being one of the tallest buildings in the state, 49% of the building's total floor area is located underground.[4] The building was proposed in 1972, and built from 1975 to 1978.[4]
Economy
[edit]The Federal Reserve Bank of Richmond is the fourth-largest Federal Reserve Bank by assets held, after New York, San Francisco, and Atlanta, as of December 2018.[5]
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Branches
[edit]- Federal Reserve Bank of Richmond Baltimore Branch Office
- Federal Reserve Bank of Richmond Charlotte Branch Office
Board of directors
[edit]The following people serve on the board of directors as of 2021[update]:[6]
Class A
[edit]| Name | Title | Term expires on December 31 |
|---|---|---|
| Jennifer LaClair | Chief Financial Officer Ally Bank Charlotte, North Carolina |
2023 |
| James H. Sills, III | President and chief executive officer Mechanics and Farmers Bank Durham, North Carolina |
2024 |
| Alice P. Frazier | President and chief executive officer Bank of Charles Town Charles Town, West Virginia |
2025 |
Class B
[edit]| Name | Title | Term expires on December 31 |
|---|---|---|
| Robert M. Blue | President and chief executive officer Dominion Energy Richmond, Virginia |
2023 |
| Nazzic Keene | Chief executive officer SAIC Reston, Virginia |
2021 |
| Wayne A. I. Frederick | President Howard University Washington, D.C. |
2025 |
Class C
[edit]| Name | Title | Term expires on December 31 |
|---|---|---|
| Lisa M. Hamilton
(vice chair) |
President and chief executive officer The Annie E. Casey Foundation Baltimore, Maryland |
2023 |
| Halsey M. Cook | President and chief executive officer Milliken & Company Spartanburg, South Carolina |
2024 |
| Jodie McLean
(chair) |
Chief Executive Officer EDENS Washington, D.C. |
2025 |
See also
[edit]
- Federal Reserve Districts
- Federal Reserve Branches
- Federal Reserve Bank of Richmond Baltimore Branch Office
- Federal Reserve Bank of Richmond Charlotte Branch Office
- Federal Reserve System
- Federal Reserve Act
- Structure of the Federal Reserve System
References
[edit]- ^ "Federal Reserve Bank of Richmond Presidential Search". www.richmondfed.org. Archived from the original on 25 April 2017. Retrieved 24 April 2017.
- ^ "Federal Reserve Bank of Richmond". www.richmondfed.org. Retrieved 12 January 2017.
- ^ "RICHMOND FEDERAL RESERVE HEADQUARTERS ON CAPITOL SQUARE, 1939". Library of Virginia DBVa. Retrieved 31 August 2022.
- ^ a b c "Federal Reserve Bank Building". Emporis. Archived from the original on 2022-03-16.
{{cite web}}: CS1 maint: unfit URL (link) - ^ "FRB: H.4.1 Release--Factors Affecting Reserve Balances-- December 06, 2018".
- ^ "Federal Reserve Board - Federal Reserve Bank of Richmond". The Federal Reserve. 8 March 2021.
External links
[edit]- Richmond Fed's home page
- Historical resources by and about the Federal Reserve Bank of Richmond including annual reports back to 1915
37°32′08″N 77°26′26″W / 37.535639°N 77.440645°W
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- Federal Reserve Bank buildings
- Federal Reserve Banks
- 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
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