Federal Reserve Bank Of Philadelphia

DEFINITION of 'Federal Reserve Bank Of Philadelphia'

The Federal Reserve Bank located in Philadelphia that is responsible for the third district. Its territory includes part of the states of New Jersey and Pennsylvania, as well as the entire state of Delaware.


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

BREAKING DOWN 'Federal Reserve Bank Of Philadelphia'

The Federal Reserve Bank of Philadelphia 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 Philadelphia, 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).




RELATED TERMS
  1. Federal Reserve Bank Of Chicago

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

    The Federal Reserve Bank located in Dallas, which is responsible ...
  3. Federal Reserve Bank Of Boston

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

    The Federal Reserve bank located in Richmond, Va.; it is responsible ...
  5. Federal Reserve Bank Of Kansas ...

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

    The Federal Reserve bank located in Minneapolis, Minn., which ...
Related Articles
  1. Economics

    Regional Banks Give The Fed A National Perspective

    We all know that the Federal Reserve utilizes monetary policy to control the economy, but what do the 12 regional Federal Reserve Banks do?
  2. Economics

    What's the Federal Funds Rate?

    The federal funds rate is the interest rate banks charge each other for overnight loans to meet their reserve requirements.
  3. Economics

    The Federal Reserve: What Is The Fed?

    The Federal Reserve was created by the U.S. Congress in 1913. Before that, the U.S. lacked any formal organization for studying and implementing monetary policy. Consequently markets were often ...
  4. Economics

    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.
  5. Economics

    Understanding the Federal Open Market Committee

    The Federal Open Market Committee is the branch of the Federal Reserve Board that determines monetary policy.
  6. Retirement

    Economic Indicators: Business Outlook Survey

    By Ryan Barnes Release Date: Third Thursday of the month Release Time: 12pm Eastern Standard Time Coverage: Current ...
  7. Markets

    Will the Federal Reserve Hike Rates in April?

    Here's a look at what the Federal Reserve will or won't do in April and why.
  8. Investing

    Why Banks Don't Need Your Money to Make Loans

    Contrary to the story told in most economics textbooks, banks don't need your money to make loans, but they do want it to make those loans more profitable.
  9. Economics

    What Does a Central Bank Do?

    A central bank oversees a nation’s monetary system.
  10. Investing News

    Is the Federal Reserve Covertly Hawkish for 2016?

    The Federal Reserve is currently dovish. Or is it?
RELATED FAQS
  1. Who determines the reserve ratio?

    Understand what the Federal Reserve is and what it regulates in the U.S. economy. Learn about the reserve ratio and how the ... Read Answer >>
  2. 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 >>
  3. 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 >>
  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 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 >>
  6. How does the Federal Reserve's set discount rate affect my personal finances?

    Discover how the Federal Reserve implements its chosen monetary policy through its discount rates, and how these actions ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center