Federal Reserve Bank of Richmond
Company Information

Federal Reserve Bank of Richmond Company Profile

One of 12 regional banks in the Federal Reserve System, the Federal Reserve Bank of Richmond oversees the Fifth District's system member banks and bank holding companies in Virginia; Maryland; the Carolinas; Washington, DC; and most of West Virginia from branches in Maryland, North Carolina, and Virginia. It conducts examinations and investigations of member institutions, distributes money, issues savings bonds and Treasury securities, and assists the Federal Reserve System in setting monetary policy. The bank also processes checks and acts as a clearinghouse for payments between banks. Federal Reserve Banks return earnings (mostly from investments in government bonds) to the US Treasury.