DEFINITION of 'Federal Reserve Bank Of Atlanta'

The Federal Reserve bank responsible for the sixth district and located in Atlanta, Ga. Its territory includes the states of Alabama, Florida, Georgia, as well as a portion of the counties or parishes within Tennessee, Mississippi and Louisiana. It operates several branches within the district and is one of 12 reserve banks withinin the Federal Reserve System.

BREAKING DOWN 'Federal Reserve Bank Of Atlanta'

The Federal Reserve Bank of Atlanta 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 clears checks and monitors electronic deposits. The president of the Federal Reserve Bank of Atlanta, along with the presidents of the other banks and the seven governors of the Federal Reserve Board, meet every six weeks in order to set interest rates. This is referred to as the Federal Open Market Committee (FOMC).

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RELATED FAQS
  1. 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 >>
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    A currency reserve is a currency that is held in large amounts by governments and other institutions as part of their foreign ... Read Answer >>
  4. 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 >>
  5. Why do commercial banks borrow from the Federal Reserve?

    Learn how commercial banks borrow from the Federal Reserve to meet minimum reserve requirements, and discover the pros and ... Read Answer >>
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