Federal Reserve Bank of Philadelphia

From MarketsWiki
Jump to: navigation, search
FTSE Russell banner 2016.gif
Federal Reserve Bank of Philadelphia
Headquarters Philadelphia, Pennsylvania, USA
Web site www.philadelphiafed.org

The Federal Reserve Bank of Philadelphia is responsible for the Third District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Charles Plosser became the Federal Reserve Bank of Philadelphia's 10th president and chief executive officer on Aug. 1, 2006.

The Philadelphia Fed is located at Ten Independence Mall, on the corner of 6th and Arch streets.

The Philadelphia Fed employs about 1,100 people. The Bank's check processing volume averages about 5.6 million checks each day.

The Philadelphia Fed currently has 311 employees in its Retail Payments Department. These employees process both commercial and government checks and handle check adjustments and other support services for our customers nationwide.

The Philadelphia Fed processes about 8 million notes each day using six high-speed machines that detect fit, unfit, and counterfeit notes. The Bank has two cash vaults – one for currency and one for coin – each the size of a football field. On an average day, the vaults hold between $5 billion and $8 billion in currency and $50 million in coin. The Philadelphia Fed provides cash services for 300 financial institutions and their branches in its district.


History

Products and Services

Membership

Key People

References