DEFINITION of 'Federal Reserve Bank Of Kansas City'
The Federal Reserve Bank responsible for the 10th district, located in Kansas City, Mo. Its territory includes parts of the states of New Mexico and Missouri, as well as the entire states of Colorado, Kansas, Nebraska, Oklahoma and Wyoming. It operates several branches within the district.
The Federal Reserve Bank of Kansas City is one of 12 reserve banks within the Federal Reserve system.
BREAKING DOWN 'Federal Reserve Bank Of Kansas City'
The Federal Reserve Bank of Kansas City 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 Kansas City, along with the presidents of the other banks and the seven governors of the Federal Reserve Board, meet to set interest rates every six weeks. This is referred to as the Federal Open Market Committee (FOMC).
The Federal Reserve Bank of Kansas City is the second-largest Bank in terms of geographical territory, behind the Federal Reserve Bank of San Francisco.
Bank notes printed by the Federal Reserve Bank of Kansas City are denoted by the mark "J10", representing the 10th district (J is also the 10th letter of the alphabet).