Richmond Fed History

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February 4, 2014

The Original Seal of the Federal Reserve Bank of Richmond

The Original Seal of the Federal Reserve Bank of Richmond

The Original Seal

The official seal of the Federal Reserve Bank of Richmond was once manually stamped on stock certificates issued to member banks. Those banks must invest a share of their capital with each Reserve Bank and are issued stock in return. Reserve Banks now pay interest on that stock. Since computerization of the Bank’s capital stock accounts, this practice has been discontinued.

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Bob

Bob McTeer talks about leading the Baltimore Branch and becoming president of the Dallas Fed.