Federal Reserve Bank Of Philadelphia

AAA

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.

INVESTOPEDIA EXPLAINS '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

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

    The Federal Reserve Bank responsible for the 10th district, located ...
  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. thinkstock|istock
    Economics

    How Much Influence Does The Fed Have?

  2. Personal Finance

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

  3. Forex Education

    Get To Know The Major Central Banks

  4. Personal Finance

    How The Federal Reserve Manages Money ...

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center