With headquarters in Minneapolis and a Branch in Helena, Mont., we examine banks to make them safe and sound. We conduct world-class research to inform policymakers. Our 1,000 employees in Minneapolis and 60 in Helena monitor the regional economy to help determine the nation’s monetary policy. We strive to promote economic well-being. And much more.
The Federal Reserve Bank of Minneapolis was incorporated on May 18, 1914, one of 12 district banks established after the signing of the Federal Reserve Act by President Woodrow Wilson on Dec. 23, 1913. Bank directors were elected during the summer. Five years after the Federal Reserve System was established, the Board of Governors authorized 18 branch banks but none for Minneapolis, despite being one of the largest regions geographically. Norman B. Holter, a Helena businessman and member of the Minneapolis Board of Directors, successfully campaigned to establish a branch in Helena. On Feb. 1, 1921, the Helena branch was opened at the corner of Park and Edward Streets with a staff of 36. Since its inception in 1914, the Federal Reserve System has evolved from a passive institution designed primarily to prevent bank panics into an active promoter of overall monetary stability as well as a multi-faceted player in the financial services industry.
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