The Reserve Bank Organization Committee announced its final decision
on the location of 12 Federal Reserve districts April 1914.
Note: Headquarters cities are in bold type. The final districting
plan, as determined by the committee, appeared first as a pamphlet
issued April 2, 1914, reprinted in both U.S. Senate (1914, pps.
361-364) and Willis (1923, PPS 589-597). This configuration is reasonably
close to the modern-day System. Some minor adjustments and revisions
were made on appeal (see Willis, 1923, PPS 736-750; Nelson, 1964,
H. Parker Willis offered eight- and nine-district plans. His nine-district
plan breaks up the Chicago district, adding Minneapolis as the ninth
Willis also suggested 10- 11- and 12-district plans. The 11-district
plan divides the San Francisco district and adds Portland as a headquarters
city, while the
12-district plan splits the Cleveland territory and makes Cincinnati
a Federal Reserve City.
Return to: Locating Federal Reserve Districts
and Headquarters Cities