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2018 Annual Report

May 9, 2019

Richmond Fed Annual Report Explores Market Concentration Debate

The Richmond Fed’s 2018 Annual Report essay asks whether increases in market concentration indicate that markets are becoming less competitive.

In addition to this essay (introduced by the Bank’s president, Tom Barkin), the annual report features a message from the Bank’s first vice president, Becky Bareford, highlighting the Richmond Fed’s commitment to diversity and inclusion. The annual report also includes a summary of the Fifth District’s economic performance during 2018 and a link to the Bank’s financial statements. The report is available on the Bank’s website.


As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.

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