Federal Reserve Bank of San Francisco

The United States Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system. It is a federal system, composed of a central, governmental agency and 12 regional Federal Reserve Banks. These 12 banks and their branches carry out a variety of system functions, including operating a nationwide payments system; distributing the nation s currency and coin; supervising and regulating member banks and bank holding companies; and serving as banker for the U.S. Treasury. San Francisco is the headquarters for the 12th Federal Reserve District, which includes the 9 western states: Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah and Washington; plus American Samoa, Guam and the Commonwealth of the Northern Mariana Islands. Branch offices are located in Los Angeles, Portland, Salt Lake City, and Seattle, with a cash-processing center in Phoenix.