Chosen Federal Reserve District - 7th District, Chicago

Chosen Federal Reserve District- 7th District, Chicago
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The Seventh Federal Reserve District located in Chicago covers five states, comprising all of Iowa and most of Illinois, Indiana, southern Michigan and southern Wisconsin, while there is also a branch bank is in Detroit (The Chicago Fed, 2019). Better understanding of the economic trends helps to evaluate the appropriateness of policies in the region served, and the Chicago Fed information is useful to improve the growth prospects. There is decentralization of decisions since the Seventh Federal Reserve District has its own balance sheet and board of directors, operated by the board of governors.
In the fourth quarter of 2018, the bank supervised 843 commercial banks, and the number has been declining gradually whereby in the first quarter of 2018 it was 865 banks. In 2018, Q 4, there were 829 commercial banks with commercial headquarters geographically located in the-Chicago District (The Chicago Fed, 2019). The Federal Reserve Bank of Chicago supervises and examines member banks for safety and soundness objectively. This extends to assessing the level of risks in banking activities and transactions and compliance with the banki...