San Francisco Office P.O. Box 7702 San Francisco, California 94120

The Federal Reserve Bank of San Francisco is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., comprise the nation's central bank.

Portland Branch P.O. Box 3436 Portland, Oregon 97208

As the nation's central bank, the Federal Reserve is responsible for making and carrying out our nation's monetary policy. It also is a bank regulatory agency, a pro-vider of wholesale priced banking services, and the fiscal agent for the United States Treasury.

The Federal Reserve Bank of San Francisco serves the Twelfth Federal Reserve District, which includes the nine western states -- Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington -- Guam, American Samoa, and the Northern Mariana Islands.

To serve this expansive region, the San Francisco Reserve Bank has five offices: our headquarters in San Francisco and offices in Los Angeles, Portland, Salt Lake City, and Seattle. Each office provides financial services to the banking institutions in its locale.

Los Angeles Branch P.O. Box 2207, Terminal Annex Los Angeles, CA 90051	Salt Lake City Branch P.O. Box 30780 Salt Lake City, Utah 84130	Seattle Branch P.O. Box 3567, Terminal Annex Seattle, Washington 98124

This Report was produced and written by Karen Flamme.
Design and illustrations were created by William Rosenthal.
Color photography by Paul Schulz.