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How many Federal Reserve Banks are there?

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Quick Answer

As of 2014, there are 12 U.S. Federal Reserve Banks located in San Francisco, Dallas, Kansas City, Minneapolis, St. Louis, Chicago, Atlanta, Richmond, Cleveland, Philadelphia, New York and Boston. The Federal Reserve System, commonly called the "Fed," also has a board of governors that serves in the nation's capital.

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Full Answer

The Fed was created in 1913 by the U.S. Congress to enable a stable financial system. The Fed manages U.S. monetary policy and regulates banks, among other services. Several of the Federal Reserve Banks offer exhibits and tours. For example, the bank in Philadelphia has a free interactive exhibit with displays that teach visitors about money, banking and the U.S. central banking system.

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