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About Us
We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Banking Supervision
We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Region & Communities
We share research, data and resources and regularly engage regional leaders and policymakers to understand and address community‑specific economic issues.
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Education
We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve.

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- Economic Education Outreach
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Working Papers

July 1976, No. 76-1

Bank Management, Competition, and Interest Rates: A Portfolio Model of Discount Window Activity

William D. Jackson

The ability to borrow funds at the discount window is a potentially valuable incentive for a bank to belong to the Federal Reserve System.

Katrina Mullen (804) 697-8145