Federal Reserve Bank Of Cleveland

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DEFINITION of 'Federal Reserve Bank Of Cleveland'

The Federal Reserve Bank responsible for the fourth district. It is located in Cleveland, OH. Its territory includes parts of the states of Pennsylvania, West Virginia and Kentucky, as well as the entire state of Ohio. It operates several branches within the district.


The Federal Reserve Bank of Cleveland is one of twelve Reserve Banks within the Federal Reserve System. It is responsible for executing the central bank's monetary policy by reviewing economic and financial conditions, and by regulating the banks within its territory. It provides cash to banks within its district, as well as monitor electronic deposits.

BREAKING DOWN 'Federal Reserve Bank Of Cleveland'

The president of the Federal Reserve Bank of Cleveland is part of a rotation of Reserve Bank presidents who, along with the seven governors of the Federal Reserve Board and the president of the Federal Reserve Bank of New York, meet to set monetary policy. This is referred to as the Federal Open Market Committee (FOMC).


Bank notes printed by Federal Reserve Bank of Cleveland are denoted by the mark "D4", representing the fourth district (D is also the fourth letter of the alphabet).

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RELATED FAQS
  1. How does the price of oil affect the stock market?

    Researchers at the Federal Reserve Bank of Cleveland looked at movements in the price of oil and stock market prices and ... Read Full Answer >>
  2. How is the Federal Reserve audited?

    Contrary to conventional wisdom, the Federal Reserve is extensively audited. Politicians on the left and right of a populist ... Read Full Answer >>
  3. Who decides when to print money in the US?

    The U.S. Treasury decides to print money in the United States as it owns and operates printing presses. However, the Federal ... Read Full Answer >>
  4. Why do some people claim the Federal Reserve is unconstitutional?

    The U.S. Constitution does not mention the need for a central bank, nor does it explicitly grant the government the power ... Read Full Answer >>
  5. How can the federal reserve increase aggregate demand?

    The Federal Reserve can increase aggregate demand in indirect ways by lowering interest rates. Aggregate demand is a measure ... Read Full Answer >>
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    The stock market reacts to changes in the federal funds rate in various ways depending on where it is in the business cycle. ... Read Full Answer >>

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