Federal Reserve Bank of Chicago

Chicago, IL United States

 

Company Description

The Federal Reserve Bank of Chicago regulates banks and bank holding companies in northern Illinois, northern Indiana, southern Wisconsin, the Lower Peninsula of Michigan, and all of Iowa. It supervises more than 850 bank holding companies and state member banks, distributes money, issues savings bonds and Treasury securities, and assists the Fed in setting monetary policy. The bank also processes checks and acts as a clearinghouse for payments between banks. Like the 11 other regional banks in the Federal Reserve System, the Federal Reserve Bank of Chicago returns its profits (earned largely from investments in government and federal agency securities) to the US Treasury.