Federal Reserve Bank of San Francisco

Federal Reserve Seal
Headquarters
Headquarters	101 Market Street San Francisco,California,USA
Established	May 18, 1914 (111 years ago) (1914-05-18)
President	Mary C. Daly
Central bank of	Twelfth District Alaska American Samoa Arizona California Guam Hawaii Idaho Nevada Northern Mariana Islands Oregon Utah Washington
Website	frbsf.org
The Federal Reserve Bank of San Francisco is one of 12regional banks that make up theFederal Reserve System

TheFederal Reserve Bank of San Francisco (informally referred to as theSan Francisco Fed) is thefederal bank for the twelfth district in theUnited States. The twelfth district is made up of nine westernstates—Alaska,Arizona,California,Hawaii,Idaho,Nevada,Oregon,Utah, andWashington—plus theNorthern Mariana Islands,American Samoa, andGuam. The San Francisco Fed has branch offices inLos Angeles,Portland,Salt Lake City, andSeattle. It also has a cash processing center inPhoenix.

The twelfth district is the nation's largest by area and population, covering 1.3 million sq mi (3.4 million km²), or 36% of the nation's area, and 60 million people. The Federal Reserve Bank of San Francisco is the second-largest by assets held, afterNew York.^[1] In 2004 the San Francisco Fed processed 20.8 billioncurrency notes and 1.5 billion commercial checks.^{[citation needed]}

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.^{[citation needed]}

Mary C. Daly serves as the President and CEO as of October 1, 2018.^[2] Notable former Presidents includeJohn C. Williams (2011–2018), who now holds the same role at theFederal Reserve Bank of New York^[3] and is Vice Chairman of theFederal Open Market Committee,^[4] as well asJanet Yellen (2004–2010), who held the role ofChair of the Board of Governors from 2014 to 2018.^[5]

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 theFederal 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 Street.

After the bank's creation, a number of branches were opened to provide services across the district.^[6]

• Spokane branch (opened July 26, 1917; closed 1938)^[6][7]
• Seattle branch (opened September 19, 1917)^[6]
• Portland branch (opened October 1, 1917; ceased cash operations 2005; currently a depot site)^[6][8]
• Salt Lake City branch (opened April 1, 1918)^[6][9]
• Los Angeles branch (opened January 2, 1920)^[6][10]

Although not a stand-alone branch, the bank opened the Phoenix Cash Processing Center in 2001.^[11]

The oldheadquarters building of the bank, designed byGeorge W. Kelham, has anIoniccolonnade that is pureBeaux-Arts, while the upper building is in the newModerne fashion of 1924. The lobby with murals byJules Guerin who created the palette for the1915 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 firmOrrick 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 theBar Association of San Francisco. It is listed on theNational Register of Historic Places (NRHP).

The old 1929Los Angeles branch building is also NRHP-listed. In 1987 the branch relocated to an adjacent new building at the corner of South Grand Ave and Olympic Blvd.^[12]

From 1951 to 2008, the Seattle branch was headquartered at theFederal Reserve Bank Building inDowntown Seattle, which had been built in 1951 for the branch and is listed on the NRHP.^[13]

The following people serve on the board of directors as of June 2025^[update]:^[14]

The position was installed under the title of "Governor" until theBanking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president.

#	Portrait	CEO	Life span	Term start	Term end	Tenure length	Ref
Governors
1		Archibald C. Kains	1865–1944	November 25, 1914	July 5, 1917	2 years, 222 days	[15]
2		James K. Lynch*	1857–1919	August 7, 1917	April 26, 1919	1 year, 262 days	[16]
3		John U. Calkins	1863–1954	May 6, 1919	February 29, 1936	16 years, 299 days	[17]
Presidents
4		William A. Day	1876–1951	April 1, 1936	December 31, 1945	9 years, 274 days	[18]
5		Ira Clerk*	1885–1946	January 1, 1946	September 28, 1946	270 days	[19]
6		C. E. Earhart	1890–1982	October 17, 1946	February 28, 1956	9 years, 134 days	[20]
7		Hermann N. Mangels	1897–1961	March 1, 1956	February 28, 1961	4 years, 364 days	[21]
8		Eliot J. Swan	1911–1998	March 1, 1961	June 1, 1972	11 years, 30 days	[22]
9		John J. Balles†	1921–2005	September 25, 1972	February 1, 1986	13 years, 129 days	[23]
10		Robert T. Parry†	1939-	February 4, 1986	June 1, 2004	18 years, 118 days	[24]
11		Janet Yellen	1946–	June 14, 2004	October 4, 2010	6 years, 112 days	[25]
12		John C. Williams	1962–	March 1, 2011	June 17, 2018	7 years, 108 days	[26]
13		Mary C. Daly	1962-	October 1, 2018	Incumbent	7 years, 134 days	[27]

• Federal Reserve Act
• Federal Reserve System
• Federal Reserve Bank
• Federal Reserve Districts
• Federal Reserve Branches
• Federal Reserve Bank of San Francisco Building (San Francisco, California)
• Structure of the Federal Reserve System

• Official FRBSF Site
• FRBSF Currency ExhibitArchived 2006-01-26 at theWayback Machine
• FRBSF Tour InfoArchived November 2, 2005, at theWayback Machine
• Historical resources by and about the Federal Reserve Bank of San Francisco including annual reports back to 1915
• Public Statements of Past Presidents of the Federal Reserve Bank of San Francisco on FRASER
• Speeches of Presidents of the Federal Reserve Bank of San Francisco
• The old main office building is at coordinates37°47′39″N122°24′03″W / 37.7943°N 122.4008°W /37.7943; -122.4008

• Federal Reserve Banks
• Government buildings in San Francisco
• Streamline Moderne architecture in California
• Bank buildings on the National Register of Historic Places in California
• Economy of the Western United States
• National Register of Historic Places in San Francisco
• Bank buildings in San Francisco

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