Federal Reserve Bank Of St. Louis
Definition of 'Federal Reserve Bank Of St. Louis'
The Federal Reserve Bank responsible for the eighth district. It is located in St. Louis, MO. Its territory includes parts of the states of Illinois, Indiana, Kentucky, Missouri, Mississippi and Tennessee, as well as the entire state of Arkansas.
The Federal Reserve Bank of St. Louis is one of 12 Reserve Banks within the Federal Reserve System. It 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.
Investopedia explains 'Federal Reserve Bank Of St. Louis'
The president of the Federal Reserve Bank of St. Louis, 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).
Bank notes printed by Federal Reserve Bank of St. Louis are denoted by the mark "H8", representing the eighth district (H is also the 8th letter of the alphabet).