Each procurement function provides value-added procurement services to its customers resulting in the best overall value goods and services for the Bank.

Local Procurement

The Bank's local procurement function provides sources of supply necessary for the daily operation of the Bank, including its branches in Baltimore and Charlotte, and for the successful completion of its strategic initiatives.

National Procurement

In addition, the Federal Reserve Bank of Richmond, along with the other 11 Reserve Banks in the Federal Reserve System, is supported by the National Procurement Office (NPO). The NPO is a procurement function within the Bank that develops and executes national contracts for certain goods and services that, when sourced collectively, provide the best value for multiple Reserve Banks.

Information Technology Procurement

Federal Reserve Information Technology (FRIT) is a national IT service provider within the Bank that provides operational and project services, enterprise IT architecture and standards services, and enterprise information security policy and assurance services throughout the Federal Reserve System. Its procurement function provides sources of supply for goods and services that meet FRIT's information technology standards.

Goods and Services

Following is a list of goods and services purchased by the Bank.  Items marked with an asterisk are supplied through an NPO contract; IT-related goods and services may also be sourced and purchased by FRIT.  This list is not comprehensive.