Federal Reserve Bank of Atlanta (2024)

FAQs

What does the Federal Reserve bank of Atlanta do? ›

The Atlanta Fed supports the Federal Reserve System in promoting consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and ...

Guided tours and self-guided museum visits are available in several locations. For questions about museums and tours, please contact [email protected].

The Federal Reserve Banks provide financial services to banks and governmental entities only. Individuals cannot, by law, have accounts at the Federal Reserve.

Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.

Individuals do NOT have accounts at the Federal Reserve.

Federal Reserve Banks are not authorized to open accounts for individuals. Only depository institutions and certain other financial entities may open an account at a Federal Reserve Bank.

1 Individuals and businesses could deposit their money at the Federal Reserve—only banks and government bodies can do that now.

The Federal Reserve provides banking services only to banks.

The Federal Reserve issues and distributes currency in the form of Federal Reserve notes. The Federal Reserve provides cash services to ensure that cash (currency and coin) in circulation is sufficient to meet public demand.

The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.

Can you use your social security number to pay bills? ›

You don't. The Social Security Number is not a credit card and does not represent a bank account. Your Social Security number allows you to get a job but has no cash value! You must have money to pay your bills!

Federal Reserve Banks are often called the "bankers' banks" because they provide services to commercial banks similar to the services that commercial banks provide for their customers. Federal Reserve Banks distribute currency and coin to banks, lend money to banks, and process electronic payments.

Federal Reserve Banks' stock is owned by banks, never by individuals. Federal law requires national banks to be members of the Federal Reserve System and to own a specified amount of the stock of the Reserve Bank in the Federal Reserve district where they are located.

The Board of Governors—located in Washington, D.C.—is the governing body of the Federal Reserve System.

The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.

Based on our data, it appears that the optimal compensation range for a Law Enforcement Officer at Federal Reserve Bank Of Atlanta is between $57,862 and $66,509, with an average salary of $61,602.

Federal Reserve Bank of Atlanta has approximately 1.5K employees as of July 2024. These team members are located across 5 continents, including North AmericaEuropeAsia.

How the Fed Helps the Economy. The Federal Reserve acts as the U.S. central bank, and in that role performs three primary functions: maintaining an effective, reliable payment system; supervising and regulating bank operations; and establishing monetary policies.

Federal Reserve Banks have been described as “instrumentalities of the United States government, neither wholly nor partially owned by the government.” Reserve Bank employees are not civil service employees, and the Fed continues to operate when the government shuts down.