Federal Reserve Bank of San Francisco

Federal reserve districts, of which the 12th is largest and most populous

Map of the Twelfth District

The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states-—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington--plus the Northern Mariana Islands, American Samoa, and Guam. The Federal Reserve Bank of San Francisco has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash processing center in Phoenix.

The twelfth district is the nation's largest by area and population, covering 1.3 million square miles (36% of the nation's area) and 60 million people. The Federal Reserve Bank of San Francisco is the third-largest by assets held, after New York and Richmond. In 2004 the San Francisco Fed processed 20.8 billion currency notes and 1.5 billion commercial checks. The current president, appointed in 2004, is John C. Williams. The Federal Reserve Bank in San Francisco has one of the largest collections of US paper money in the United States, which is displayed in the American Currency Exhibit.

History

The San Francisco Federal Reserve Bank opened for business in rented quarters at the rear of the Merchants National Bank on November 16, 1914, in order to make the reserve provisions of the Federal Reserve Act. In 1924, the San Francisco staff moved out of temporary locations and into the Bank's newly built headquarters at 400 Sansome Street, a location that it would occupy for the next 60 years. In 1983, the bank relocated to 101 Market St.

Buildings

The façade of the old Federal Reserve Bank of San Francisco at 400 Sansome Street

Federal Reserve Bank of San Francisco
U.S. National Register of Historic Places
exterior of the Los Angeles branch
Location:	409 W. Olympic Blvd., Los Angeles, California
Coordinates:	34°2′34″N 118°15′31″W
Area:	0.6 acres (0.24 ha)
Built:	1930
Architectural style:	Moderne, Other, Classical Moderne
Governing body:	Private
NRHP Reference#:	84000843
Added to NRHP:	September 20, 1984

A side view of the current Fed building, showing the Fed's seal.

The current Fed building in front view.

The headquarters building of the bank, designed by George W. Kelham, has an Ionic colonnade that is pure Beaux-Arts, while the upper building is in the new Moderne fashion of 1924. The lobby with murals by Jules Guerin who created the palette for the 1915 Panama-Pacific International Exhibition. In 1983 the bank relocated to larger and more modern facilities on 101 Market Street as the 400 Sansome Street location was sold to private developers who rented out the space. Prominent law firm Orrick Herrington & Sutcliffe was headquartered in the building until 2002 when the firm moved out of the space. The building continues to be owned by private developers and current tenants include the Bar Association of San Francisco. It is listed on the National Register of Historic Places (NRHP).

There is also a Federal Reserve Bank of San Francisco building in Los Angeles. The 1929 built building is also NRHP-listed.

Current Board of Directors

The following people serve on the board of directors as of 2012: All terms expire December 31.

Class A

Class A

Name	Title	Term Expires
Kenneth P. Wilcox	Chairman Silicon Valley Bank Santa Clara, California	2012
Betsy Lawer	Vice Chair First National Bank Alaska Anchorage, Alaska	2013
Megan F. Clubb	President and Chief Executive Officer Baker Boyer National Bank Walla Walla, Washington	2014

Class B

Class B

Name	Title	Term Expires
Blake W. Nordstrom	President Nordstrom, Inc. Seattle, Washington	2012
Nicole C. Taylor	President and Chief Executive Officer East Bay Community Foundation Oakland, California	2013
Richard A. Galanti	Executive Vice President and Chief Financial Officer Costco Wholesale Corporation Issaquah, Washington	2014

Class C

Class C

Name	Title	Term Expires
William D. Jones	President and Chief Executive Officer City Scene Management Company San Diego, California	2012
Patricia E. Yarrington (Deputy Chair)	Vice President and Chief Financial Officer Chevron Corporation San Ramon, California	2013
Douglas W. Shorenstein (Chair)	Chairman and Chief Executive Officer Shorenstein Properties LLC San Francisco, California	2014

Branches

• Federal Reserve Bank of San Francisco Los Angeles Branch
• Federal Reserve Bank of San Francisco Portland Branch
• Federal Reserve Bank of San Francisco Salt Lake City Branch
• Federal Reserve Bank of San Francisco Seattle Branch

See also

• Federal Reserve Act
• Federal Reserve System
• Federal Reserve Bank
• Federal Reserve Districts
• Federal Reserve Branches
• Federal Reserve Bank of San Francisco Los Angeles Branch
• Federal Reserve Bank of San Francisco Portland Branch
• Federal Reserve Bank of San Francisco Salt Lake City Branch
• Federal Reserve Bank of San Francisco Seattle Branch
• Federal Reserve Bank of San Francisco Building (San Francisco, California)
• Structure of the Federal Reserve System

External links

• Official FRBSF Site
• FRBSF Currency Exhibit
• FRBSF Tour Info
• FedVille game
• The old main office building is at coordinates37.7943°N 122.4008°W / 37.7943; -122.4008