Federal Reserve Bank of Kansas City
From Wikipedia, the free encyclopedia
The Federal Reserve Bank of Kansas City covers the 10th District of the Federal Reserve, which includes Colorado, Kansas, Nebraska, Oklahoma, Wyoming, and portions of western Missouri and northern New Mexico. The Bank has branches in Denver, Oklahoma City, and Omaha. The current president is Thomas M. Hoenig.
Federal Reserve Notes issued by the bank are identified by "J" on the face of one and two dollar bills and the J10 on the face of other currency.
The Fed in Kansas City is second only to the Federal Reserve Bank of San Francisco in geographic area served.
Kansas City and St. Louis had a fierce rivalry over which city was to get a headquarters and it was to wind up with both cities getting one (Missouri is the only state to have multiple headquarters). Among the reasons noted for the award was that former Kansas City mayor James A. Reed, who was on the Senate Banking Committee, broke the deadlock to permit passage of the Federal Reserve Act.[1]
The first bank building was in the R.A. Long Building at 928 Grand which opened on November 16, 1914 until a new $4.3 million building could be built across the street at 925 Grand which formally opened in November 1921 in Downtown Kansas City. Shortly after it was established the bank rented space to outside tenants.[2] It is currently in the oldest building of any Federal Reserve Bank and will be in the newest of any of the banks when it moves in 2008.
In 2002 the bank announced plans to build a new facility at 20 blocks south at 29th and Main on 15.6 acres on a hilltop south of the Liberty Memorial.
The 925 Grand Building was sold to Townsend LLC in March 2005 and the reserve is leasing back the structure until the new building opens (target for 2008).[3]
The new building is to be 600,000 square feet and have a 12-story office tower and 2-story operations center. It is being designed by Henry N. Cobb of Pei Cobb Freed & Partners.
The bank employs 925 people in Kansas City.[4]
Since 1978, the Kansas City Fed has held an annual symposium in Jackson Hole, Wyoming. It is the Federal Reserve's major conference that brings together people from the Fed, other parts of government, and the private sector.
[edit] Popular culture
The heist in the 2008 movie Mad Money takes place at the bank.
[edit] References
- ^ A Foregone Conclusion: The Founding of the Federal Reserve Bank of St. Louis by James Neal Primm - stlouisfed.org - Retrieved January 1, 2007.
- ^ -Timeline - Official Federal Reserve Bank of Kansas City Website
- ^ Federal Reserve Bank of Kansas City Announces Sale of Headquarters Building - March 15, 2005 - Official Press Release
- ^ Federal Reserve Bank of Kansas City Announces Sale of Headquarters Building - March 15, 2005 - Official Press Release
[edit] External links
- Federal Reserve Bank of Kansas City is at coordinates Coordinates:
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