Search results
People also ask
When was the Chicago Fed established?
Who owns the Federal Reserve Bank of Chicago?
What is the Federal Reserve Bank of Chicago?
When did the Chicago Fed stop processing checks?
History of the Chicago Fed. The Federal Reserve is a distinctly American central banking system—the product of a long and tumultuous history of compromise and collaboration. Unlike many of its contemporaries around the world, the Fed is decentralized, yet centralized; a public institution in service of the people, yet inextricably linked to ...
The Chicago Fed was established on May 18, 1914, when representatives from five Seventh District banks formally signed the Chicago Fed's organization certificate. [1] . The Bank officially opened for business on Monday, November 16, 1914. [2] Responsibilities. Map of the Seventh District.
The Chicago Fed opened for business on Monday, November 16, 1914. James B. McDougal was selected as the Bank's first governor (a title changed to president in 1935). As head examiner for the Chicago Clearing House, McDougal was well known to Chicago bankers and the choice "was greeted with universal approval."
Bank Location. 230 South LaSalle Street. Chicago, IL 60604. (312) 322-5322. Visitor Information. Money Museum. Head office at Chicago, Illinois. Branch Bank at Detroit, Michigan. Covers the state of Iowa; 68 counties of northern Indiana; 58 counties of northern Illinois; 68 counties of southern Michigan; and 46 counties of southern Wisconsin.
