We are the Federal Reserve Bank of Richmond, one of 12 independent regional Reserve Banks that make up the operating arm of the central bank of the United States, also known as the Federal Reserve.
Guided by the Fed’s dual mandate—maximum employment and stable prices—we work to strengthen the economy and the communities we serve by advancing the nation’s monetary, financial and payments systems.
We represent the Fifth Federal Reserve District, which includes North and South Carolina, Virginia, Maryland, Washington, D.C. and most of West Virginia. We are active in our region, listening and learning from individuals, businesses and community leaders to inform decisions and policies that help our economy grow stronger.
Learn more about Who We Are & What We Do >
The 12 regional Reserve Banks are the operating arm of the Federal Reserve. Each Reserve Bank works within its own particular geographic area, or district, of the United States.
Although subject to oversight from the Board of Governors in Washington, D.C., the Reserve Banks operate independently in many respects to carry out core Fed functions. The Reserve Banks also provide a wealth of information on economic conditions across the nation to inform a national monetary policy that helps maintain a healthy U.S. economy and stable financial system.
“One of the most unique and important aspects of the Federal Reserve’s decentralized structure is the participation of the American public in the ongoing operations of the twelve Reserve Banks.”
Esther L. George
Former President and CEO
Federal Reserve Bank of Kansas City
The Richmond Fed represents the Fifth Federal Reserve District, which includes North and South Carolina, Virginia, Maryland, Washington, D.C. and most of West Virginia.
We are headquartered in Richmond, Virginia with branch offices in Baltimore, Maryland and Charlotte, North Carolina.
Richmond Fed in Action
As a regional Reserve Bank, the Richmond Fed contributes to the Fed’s work to promote a healthy economy and financial stability in the following ways:
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Inform Monetary Policy Leadership Through Research and Listening
As the head of one of the 12 regional Reserve Banks, Richmond Fed President Tom Barkin represents the Fifth District in national monetary policy conversations.
Richmond Fed economists, outreach teams and community advisory councils inform President Barkin's monetary policy leadership by conducting robust economic research and gathering perspectives of consumers who live and work in the Fifth District.
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Actively Engage Within Local Communities
Richmond Fed teams actively engage within communities across the Fifth District to understand and learn from individuals' on-the-ground experiences with their local economy. Insights from this work are commonly shared in Bank publications like Regional Matters and System publications like the Beige Book.
Additionally, our teams provide economic education and community development programming and resources to help community members improve their personal financial outcomes and to create a stronger economy for all.
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Support the U.S. Payments System and Cash Circulation
The Richmond Fed team helps ensure cash flowing through the Fifth District is not worn, torn or counterfeit and that there's enough currency available to meet the needs of Fifth District banks and their customers. Our teams also help keep consumers' electronic payments, direct deposits and more flowing smoothly through the nation's payments system.
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Ensure a Safe and Sound Financial System Through Bank Supervision
Richmond Fed examiners monitor and assess Fifth District banks' operational, managerial and risk practices to ensure they are in compliance with relevant banking laws and regulations.
This banking supervision work helps give Fifth District consumers peace of mind by ensuring the banks they do business with are operating in a safe and sound manner.
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Share Specialized Expertise with the Federal Reserve System
Each regional Reserve Bank contributes areas of specialized expertise that benefit the entirety of the Federal Reserve System.
At the Richmond Fed, such areas of expertise include (but are not limited to) our work to understand the unique economic opportunities and challenges of rural communities through research, outreach and programming like the Rural Investment Collaborative and the annual Investing in Rural America conference.
At the Richmond Fed, we take great pride in our public service mission and the work we do, knowing it impacts individuals and communities throughout our region—and the nation—every day.
When you join our team, you’ll be welcomed into an organization that embraces differences and new ways of thinking, actively gives back to our communities and empowers all of us to lead from where we are to make a difference.
Explore Our Work
News
Nov. 13, 2024
Leaders from the organizations receiving the grants are graduates of the 2024 cohort of the Rural Investment Collaborative's Community Investment Training program.
News
Sept. 30, 2024
Just 75 minutes from Richmond, Farmville and its surrounding counties are an idyllic setting for bargain hunters and outdoor adventurers alike. The area's economic landscape is notably shaped by its educational institutions and agricultural roots, alongside other attractions. Recently, our Community Conversations Team made a visit to the area to learn more about their economic strengths and opportunities.