110 Unit 2 Money and Regulation By examining the districts shown in Figure 5-2, you can see that the sizes of Federal Reserve Bank districts vary. Districts with a denser population and greater financial activity are smaller in area than districts fi more sparsely populated and with less fi nancial activity. For example, the fi district based in New York City is geographically much smaller than the district based in Kansas City. The Fed identifi es each district by number and the name of the city where the Federal Reserve Bank is located. Within each district, the Federal Reserve Bank may have one or more branches. Today, all of the cities containing Federal Reserve Banks are considered major cities. Organization of the Federal Reserve Each Federal Reserve Bank governs itself and supervises the member banks in its region. Figure 5-3 shows the structure of the Federal Reserve, which includes the Board of Governors and the Federal Open Market Committee. 5 5 5 12 12 12 2 9 10 10 0 10 11 7 8 8 6 4 3 2 1 p polis Minneap San Francis n Francis sco San S Dallas ansas Cityy ansas City Ka Louis uis L i Lou St. Lo ag ag ago Chica Atlanta At tlanta Cleveland Richmond Boston New York Philadelphia Board of Governors 1. Boston, MA 2. New York, NY 3. Philadelphia, PA 4. Cleveland, OH 5. Richmond, VA 6. Atlanta, GA 7. Chicago, IL 8. St. Louis, MO 9. Minneapolis, MN 10. Kansas City, MO 11. Dallas, TX 12. San Francisco, CA Source: www.federalreserve.gov Figure 5-2. District Reserve Banks BIZ TIPS In today’s world o In today’s world of Internet a d o o o y a o today n d r r wor o o o o w o o w w n n n I d d d d d w w o o o w o o n rl I s n to access and access and high-speed and acces a e a c n d c c an a c an a travel, conc travel, concern about the c nc r tra c n n el physical loc physical location of the o al h ph p s Fed might be diffi cult to understand. However, in the early 1900s when the h l h h Fed was created, trading stock required you or your representative to be physi- cally present to make the trade.