Federal Reserve Bank Of Chicago

AAA

DEFINITION of 'Federal Reserve Bank Of Chicago'

The Federal Reserve Bank responsible for the seventh district of the Federal Reserve. It is located in Chicago, IL. Its territory includes parts of the states of Indiana, Illinois, Wisconsin and Michigan, as well as the entire state of Iowa.




INVESTOPEDIA EXPLAINS 'Federal Reserve Bank Of Chicago'

The Federal Reserve Bank of Chicago is one of twelve Reserve Banks within the Federal Reserve System. It is responsible for executing the central bank's monetary policy by reviewing price inflation and economic growth, and by regulating the banks within its territory. It provides cash to banks within its district and monitors electronic deposits.


The president of the Federal Reserve Bank of Chicago, along with the presidents of the other Banks and the seven governors of the Federal Reserve Board, meet to set interest rates eight times anually. This is referred to as the Federal Open Market Committee (FOMC).




RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Federal Reserve Bank Of Boston

    The Federal Reserve Bank responsible for the first district of ...
  3. Federal Reserve Bank Of Richmond

    The Federal Reserve bank located in Richmond, Va.; it is responsible ...
  4. Federal Open Market Committee Meeting ...

    The meeting of the Federal Open Market Committee (FOMC) that ...
  5. Beige Book

    A commonly used name for the Fed report called the Summary of ...
  6. Federal Reserve System - FRS

    The central bank of the United States. The Fed, as it is commonly ...
Related Articles
  1. The Treasury And The Federal Reserve
    Bonds & Fixed Income

    The Treasury And The Federal Reserve

  2. How Much Influence Does The Fed Have?
    Economics

    How Much Influence Does The Fed Have?

  3. How The U.S. Government Formulates Monetary ...
    Personal Finance

    How The U.S. Government Formulates Monetary ...

  4. Get To Know The Major Central Banks
    Forex Education

    Get To Know The Major Central Banks

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center