DEFINITION of 'Federal Reserve Bank Of Minneapolis'

The Federal Reserve bank located in Minneapolis, Minn., which is responsible for the ninth district. Its territory includes parts of the states of Wisconsin and Michigan, as well as the entire states of Minnesota, Montana, North Dakota and South Dakota.

The Federal Reserve Bank of Minneapolis is one of 12 reserve banks within the Federal Reserve System.

BREAKING DOWN 'Federal Reserve Bank Of Minneapolis'

The Federal Reserve Bank of Minneapolis 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, as well as monitoring electronic deposits. The president of the Federal Reserve Bank of Minneapolis is part of a rotation of bank presidents who, along with the seven governors of the Federal Reserve Board, meet to set open market operations. This is referred to as the Federal Open Market Committee (FOMC).


The Federal Reserve Bank of Minneapolis is the third-largest bank in terms of the territory it controls, behind the Federal Reserve Bank of San Francisco and the Federal Reserve Bank of Kansas City.


Bank notes printed by Federal Reserve Bank of Minneapolis are denoted by the mark "I9", representing the ninth district (I is also the ninth letter of the alphabet).

RELATED TERMS
  1. Federal Reserve Bank Of Chicago

    The Federal Reserve Bank responsible for the seventh district ...
  2. Federal Reserve Bank Of Philadelphia

    The Federal Reserve Bank located in Philadelphia that is responsible ...
  3. Federal Reserve Bank Of Dallas

    The Federal Reserve Bank located in Dallas, which is responsible ...
  4. Federal Reserve Bank Of Cleveland

    The Federal Reserve Bank responsible for the fourth district. ...
  5. Federal Reserve Bank Of Kansas ...

    The Federal Reserve Bank responsible for the 10th district, located ...
  6. Reserve City Bank

    A bank that is found in any city that also has a Federal Reserve ...
Related Articles
  1. Investing

    How The U.S. Government Formulates Monetary Policy

    Learn about the tools the Fed uses to influence interest rates and general economic conditions.
  2. Insights

    What Do the Federal Reserve Banks Do?

    These 12 regional banks are involved with four general tasks: formulate monetary policy, supervise financial institutions, facilitate government policy and provide payment services.
  3. Personal Finance

    Explaining the Reserve Ratio

    Reserve ratio is the amount of cash a bank must keep in its bank vaults or deposit into a central, governing bank.
  4. Investing

    What's the Salary of the Chairman of the Federal Reserve?

    The chairman of the Federal Reserve oversees the U.S. banking system.
  5. Trading

    Explaining the Federal Reserve System

    The Federal Reserve System is the central bank of the United States. It regulates monetary policy and supervises the nation’s banking system.
  6. Personal Finance

    Explaining the Federal Discount Rate

    The federal discount rate is the rate at which eligible banks or other depository institutions can borrow funds from a Federal Reserve bank.
  7. Personal Finance

    What Does a Central Bank Do?

    A central bank oversees a nation’s monetary system.
RELATED FAQS
  1. What is the structure of the U.S. Federal Reserve Bank?

    Wonder how the U.S. Federal Bank began and how it works today? Learn how this complex system is structured and how it works ... Read Answer >>
  2. What do banks do to control the bank reserve?

    Understand what the Federal Reserve does in order to expand or contract the economy. Learn what depository institutions can ... Read Answer >>
  3. Why would the Federal Reserve change the reserve ratio?

    Understand the Federal Reserve's monetary policy and the tools it uses to change that monetary policy. Learn about the reserve ... Read Answer >>
  4. What happens if the Federal Reserve lowers the reserve ratio?

    Learn about the Federal Reserve's monetary policy and the tools it uses to control it. Understand what happens if the Federal ... Read Answer >>
  5. How are bank reserve requirements determined and how does this affect shareholders?

    Learn how bank reserve requirements are determined and how bank reserves affect shareholders through improved bank stability ... Read Answer >>
  6. How do central banks acquire currency reserves and how much are they required to ...

    A currency reserve is a currency that is held in large amounts by governments and other institutions as part of their foreign ... Read Answer >>
Hot Definitions
  1. Ponzi Scheme

    A fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns ...
  2. Dow Jones Industrial Average - DJIA

    The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange ...
  3. Revolving Credit

    A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is ...
  4. Marginal Utility

    The additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important ...
  5. Contango

    A situation where the futures price of a commodity is above the expected future spot price. Contango refers to a situation ...
  6. Stop-Loss Order

    An order placed with a broker to sell a security when it reaches a certain price. A stop-loss order is designed to limit ...
Trading Center