Federal Reserve Bank of Chicago · Chicago, IL United States

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 Iowa. It conducts examinations and investigations of more than 1,100 member banks and bank holding companies, 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. To read the full description, subscribe now.