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Reflections on Community Banking

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  • Alfred Broaddus

Abstract

It is a pleasure to be with you today, and I thank you for inviting me. Community banks such as those you represent and the Federal Reserve System share a long and productive history providing stable and dependable financial services across America. I'd like to talk with you today about our continuing partnership and the future we both face. When the Fed opened for business in 1914, it began operations with several mandates: to foster a flow of money and credit that ensured orderly and stable economic growth; to act as fiscal agent for the U.S.; to issue Federal Reserve notes; to hold deposits of and make loans to member banks; to help supervise and regulate banks; and to provide various financial services that promoted an efficient payments system and helped banks serve their customers.

Suggested Citation

  • Alfred Broaddus, 1997. "Reflections on Community Banking," Speech 101487, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:r00034:101487
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    File URL: https://www.richmondfed.org/press_room/speeches/j_alfred_broaddus/1997/broaddus_speech_19970801
    File Function: Speech
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