Abstract
As the central bank of the United States, the Federal Reserve performs three basic functions: the implementation of monetary policy, the supervision and regulation of member banks, and the provision of various services to the public, the U. S. Treasury, and commercial banks. These operations are conducted through the 12 regional Federal Reserve Banks located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. In addition, 25 branches of the 12 regional banks perform similar functions in territories served by such branches. The Eighth Federal Reserve District is served by the head office in St. Louis and branches in Little Rock, Louisville, and Memphis, and covers a region which includes the state of Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri, and Tennessee.
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