What is the Federal Reserve Bank Of Kansas City
The Federal Reserve Bank of Kansas City (informally referred to as the Kansas City Fed) is one of the 12 regional Reserve Banks (regional Feds) in the Federal Reserve System. It is the Federal Reserve Bank responsible for the Tenth district, located in Kansas City, Mo. Its territory includes the states of Colorado, Kansas, Nebraska, Oklahoma, and Wyoming, a well as 43 counties in western Missouri and 14 counties in northern New Mexico. It has branches in Denver, Colorado; Oklahoma City, Oklahoma; and Omaha, Nebraska. The Federal Reserve Bank of Kansas City is the second-largest regional Reserve Bank in terms of geographical territory, behind the Federal Reserve Bank of San Francisco.
BREAKING DOWN Federal Reserve Bank Of Kansas City
The Federal Reserve Bank of Kansas City mirrors the three central functions of the Federal Reserve System — conducting monetary policy, maintaining a safe and efficient payments system, and regulating and supervising banks — within its geographical coverage area. The Kansas City Fed is responsible for supporting the central bank's monetary policy within its territory. It conducts research on and reviews economic developments in its territory, providing input (along with the other regional Feds) into national level policy. It also has responsibility for regulating and supervision of banks in its region, a critical function for financial system stability. The Kansas City Fed is unique among the regional Feds in having a high concentration of community banks (banks which borrow from and lend to the communities where they operate rather than being part of a multibank holding company.) within its geographic coverage area. Finally, the Kansas City Fed supports the payments system through actions such as monitoring regional demand for currency and coin, distributing new currency and replacing worn currency, and detecting counterfeit currency.
Each of the regional Feds prints currency. Bank notes printed by the Federal Reserve Bank of Kansas City are denoted by the mark "J10", representing the Tenth district (J is also the tenth letter of the alphabet).
The current president (and CEO) of the Kansas City Fed is Ester L. George. She is the 9th president of the Kansas City Fed. In 2018, she is an alternate voting member on the monetary policy-setting Federal Open Market Committee (FOMC).