Federal Reserve Bank of Atlanta

Federal Reserve Bank in Midtown Atlanta

The Federal Reserve Bank of Atlanta, (informally the Atlanta Fed), is one of the 12 Federal Reserve Banks of the United States. Located in Atlanta, Georgia, it is responsible for the sixth district of the Federal Reserve System, which covers the U.S. states of Alabama, Florida, and Georgia, 74 counties in the eastern two-thirds of Tennessee, 38 parishes of southern Louisiana, and 43 counties of southern Mississippi.[1] The Sixth District operates branches in Atlanta, Birmingham, Jacksonville, Miami, Nashville, and New Orleans. These branches provide cash to banks, savings and loans, and other depository institutions; transfer money electronically; and clear millions of checks.[2]

Federal Reserve System Sixth District

The bank is currently located at 1000 Peachtree Street NE in Midtown Atlanta. Prior to 2001, the bank was located in downtown Atlanta at 104 Marietta Street NW, which is now the home of the State Bar of Georgia.

The Atlanta Fed has three main functions: monetary policy, operation of nationwide payment system, and bank supervision and regulation. Its job is to decide the interest rates, and the president meets with other bank presidents and board members. The Bank’s board of directors makes recommendations on the levels of discount rates.

The old Federal Reserve Bank of Atlanta building, now the State Bar of Georgia. Located at 104 Marietta Street NW

Board of Directors

The following people are on the board of directors as of September, 2016:[3][4]

Class A

Class A
Name Title Term Expires
Gerard R. Host President and Chief Executive Officer
Trustmark Corporation
Jackson, Mississippi		 2018
T. Anthony Humphries President and Chief Executive Officer
NobleBank and Trust
Anniston, Alabama		 2016
William H. Rogers, Jr. Chairman and Chief Executive Officer
SunTrust Banks, Inc.
Atlanta, Georgia		 2017

Class B

Class B
Name Title Term Expires
Elizabeth A. Smith Chairman and CEO
Bloomin' Brands, Inc.
Tampa, Florida		 2018
Jonathan T.M. Reckford CEO
Habitat for Humanity International
Atlanta, Georgia		 2017
José S. Suquet Chairman, President, and Chief Executive Officer
Pan-American Life Insurance Group
New Orleans, Louisiana		 2016

Class C

Class C
Name Title Term Expires
Thomas A. Fanning
(Chair)		 Chairman, President, and Chief Executive Officer
Southern Company
Atlanta, Georgia		 2018
Myron A. Gray President, U.S. Operations
United Parcel Service
Atlanta, Georgia		 2017
Michael J. Jackson
(Deputy Chair)		 Chairman and CEO
AutoNation, Inc.
Fort Lauderdale, Florida		 2016

All terms expire on December 31.[4]

Former board members

Management

The current president, Dennis P. Lockhart, took office March 1, 2007, as the 14th president and chief executive officer of the Sixth District Federal Reserve Bank, at Atlanta.[1] Facing his mandatory retirement, FRBA announced Lockhart would be stepping down in February, 2017. The firm Spencer Stuart had been named to help with the search for a replacement in September, 2016. First Vice President Marie Gooding would hold the job on an interim basis if a permanent successor was not found before Lockhart's February 28 departure date.[5]

See also

References

  1. 1 2 "Federal Reserve Bank Presidents: Dennis P. Lockhart". Board of Governors of the Federal Reserve System. January 28, 2009. Retrieved 2009-02-19.
  2. ↑ "Branches". Federal Reserve Bank of Atlanta. Archived from the original on January 22, 2009. Retrieved 2009-02-19.
  3. ↑ "Federal Reserve Bank of Atlanta Directors", FRB Atlanta webpage. Retrieved 2016-09-13.
  4. 1 2 "Directors of Federal Reserve Banks and Branches". The Federal Reserve. September 13, 2016.
  5. ↑ Derby, Michael S., "Atlanta Fed’s Dennis Lockhart, a Bellwether Voice at the Central Bank, to Step Down", Wall Street Journal, September 13, 2016. Retrieved 2013-09-13.

External links

Coordinates: 33°46′57″N 84°23′7″W / 33.78250°N 84.38528°W / 33.78250; -84.38528 (Federal Reserve Bank of Atlanta)

This article is issued from Wikipedia - version of the 9/13/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.