Skip to Main Content

Annual Report


2005 Annual Report cover

Reviews the Bank's operations and includes the article entitled "Borrowing by U.S. Households"

Message from the President

Jeff Lacker comments on consumer spending and the expansion of retail credit in his introduction to the feature essay.

Feature Article: "Borrowing by U.S. Households"

Over the past 50 years, growth in the use of credit has been on the rise with consumers finding themselves more and more in debt. What are the underlying reasons for this trend and what does it really mean for U.S. households? John Weinberg looks at these questions in this article.

Fifth District Economic Report

A look back at 2005 economic conditions in the Fifth District, including analysis and data on employment, personal income and household financial conditions, business conditions, and housing and commercial real estate.

Message from Management

Senior management highlights the many roles of the Bank and the critical importance of staff. Also included in this section is a photo of the Management Committee.

Boards of Directors and Advisory Groups

Photos and listings of the Bank's boards of directors and advisory councils.


A listing of the Bank's officers based in Richmond, Baltimore, and Charlotte.

Financial Statements

Comparative financial statements and footnotes for 2005. Also includes Management Assertion and Report of Independent Auditors.

Phone Icon Contact Us

Lisa Davis (804) 697-8179