Federal Reserve Membership

Who can be a member of the Federal Reserve System?

Any financially sound, well managed state-chartered commercial bank, including a newly formed bank (or de novo), has the option to become a member of the Federal Reserve System. Membership requirements are outlined in Section 208.3(b) of Regulation H.

How are state member banks supervised?

The 12 regional Reserve banks supervise state member banks as part of the Federal Reserve System’s mandate to assure strength and stability in the nation’s domestic markets and banking system. Reserve bank supervision is carried out in partnership with the state regulator, ensuring a consistent and unified regulatory environment. Regional and community banking organizations constitute the largest number of banking organizations supervised by the Reserve banks. The Federal Reserve Bank of St. Louis supervises state member banks in the Eighth District, which comprises Arkansas and portions of Illinois, Indiana, Kentucky, Tennessee, Mississippi and Missouri.

A map of the United States with a breakout of the 12 Federal Reserve Districts.

Click to learn more about the Membership Application Process.

To discuss the benefits of being a state member bank or to initiate a membership application, see our Bank and Bank Holding Company Applications and Federal Reserve Membership contacts.

NEXT: The Fed’s Role in Banking Supervision and Regulation

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