Federal Reserve Bank of Richmond Baltimore Branch facts for kids

The Federal Reserve Bank of Richmond Baltimore Branch Office is one of the two Federal Reserve Bank of Richmond branch offices. The Federal Reserve Bank of Richmond's Baltimore Branch is an operational and regional center for Maryland, the metropolitan Washington D.C. area, Northern Virginia, and northeastern West Virginia. The Baltimore branch is part of the Fifth District and has the code E5. It supports Check 21 operations, supplies coin and currency to financial institutions and works to maintain stability in the financial sector throughout the Fifth District and also works with local elected officials and non-profit organizations to support fair housing initiatives throughout the Fifth District. The Baltimore branch was founded in March 1918 and is currently headed by William R. Roberts.

Federal Reserve Bank of Richmond District

Each branch of the Federal Reserve Banks has a board of either seven or five directors, a majority of whom are appointed by the parent Federal Reserve Bank; the others are appointed by the Board of Governors. Branch directors serve staggered three-year terms (two-year terms if the Branch has five directors). One of the members appointed by the Federal Reserve Board is designated annually as chairman of the board of that Branch in a manner prescribed by the parent Federal Reserve Bank. The Baltimore branch currently allows private and educational tours of up to thirty people with reservations. Cell phones and cameras are not permitted inside the building. The Federal Reserve Bank of Richmond Baltimore Branch Office sponsors the annual Fed Challenge to encourage better understanding of the nation's central bank and the forces influencing economic conditions in the United States and abroad. In 1997, the Federal Reserve Bank of Richmond- Baltimore Branch won the silver U.S. Senate Productivity and Maryland Quality Award. In 2008, Dorothy Voorhees received the Federal Reserve Bank of Richmond Baltimore Branch 2008 Excellence Award for outstanding achievement in the study of economics.

News

On April 18, 2009, the Baltimore branch office of the Federal Reserve Bank of Richmond will no longer process checks, and banks currently served by that office will be reassigned to the head office of the Federal Reserve Bank of Philadelphia.

Historic building

Quick facts for kids
Federal Reserve Bank of Richmond, Baltimore Branch
U.S. National Register of Historic Places
Location in Baltimore Show map of Baltimore Location in Maryland Show map of Maryland Location in the United States Show map of the United States
Location	114 E. Lexington St., Baltimore, Maryland
Area	0.3 acres (0.12 ha)
Built	1926 (1926)
Architect	Taylor & Fisher
Architectural style	Late 19th And 20th Century Revivals, 2nd Renaissance Revival
NRHP reference No.	83002933
Added to NRHP	January 27, 1983

The previous Baltimore Federal Reserve Branch Bank building is a historic bank building. It is a masonry and steel, ten story building and five bays wide on each elevation, designed in 1926 in the Second Renaissance Revival Style. The exterior features rusticated limestone facing, with carvings and enormous arched windows on the first floor. The interior features an enormous main banking room with floors, teller stations, and Corinthian columns all of polished marble. It was expanded in 1956. It is now the Lenore Apartments.

The Federal Reserve Bank of Richmond, Baltimore Branch was listed on the National Register of Historic Places in 1983. It is included within the Baltimore National Heritage Area

Employment

Employees of the Federal Reserve Bank of Richmond Baltimore Branch Office are not government employees. Instead, they are paid as part of the expenses of their employing Reserve Bank. This means that they are not eligible for federal employee benefits which include healthcare, additional legal rights, and a government pension. The Federal Reserve Bank of Richmond, Baltimore Branch has a 2009 Spring Student Internship Paid Position available to junior and senior college students. Students must be able to work between 16–24 hours per week and the starting salary begins at $18.98 per hour. The students are required to relocate to Baltimore, Maryland as part of their internship.

Current Board of Directors

The following people are on the board of directors as of 2013:

Appointed by the Federal Reserve Bank

Appointed by the Board of Governors

Conferences

• "Understanding New Markets Tax Credits," Wall Street Without Walls Training Workshop at the Federal Reserve Bank of Richmond, Baltimore Branch, Baltimore, Maryland, July 22, 2003.
• "Transitional Employment Models," The Enterprise Foundation Ready, Work, Grow National Workforce Conference, Baltimore, Maryland, April 2003.