A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows:
Some banks also possess branches, with the whole system being headquartered at the Eccles Building in Washington, D.C.
1914Nov, 16
The Federal Reserve Bank of the United States officially opens.
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Events on 1914
- 28Jun
Assassination of Archduke Franz Ferdinand of Austria
Archduke Franz Ferdinand of Austria and his wife Sophie are assassinated in Sarajevo; this is the casus belli of World War I. - 26Jul
Bulgaria
Serbia and Bulgaria interrupt diplomatic relationship. - 5Aug
Traffic light
In Cleveland, Ohio, the first electric traffic light is installed. - 15Aug
Frank Lloyd Wright
A servant of American architect Frank Lloyd Wright murders seven people and sets fire to the living quarters of Wright's Wisconsin home, Taliesin. - 1Sep
Petrograd
St. Petersburg, Russia, changes its name to Petrograd.