Review

The operations of the Federal Reserve System are conducted through the Board of Governors and a network of 12 Federal Reserve Banks located in districts across the country. The Federal Reserve System provides a variety of services for member commercial banks, the United States Government, and the public. Federal Reserve Banks clear and collect checks, transfer funds, distribute coin and currency, and extend credit to member banks. They supervise and regulate member banks and bank holding companies. As bankers for the Federal Government, Federal Reserve Banks carry the principal checking accounts of the United States Treasury and market Treasury securities.

Changes in agricultural conditions in the Eighth Federal Reserve District generally follow the national pattern. Hence, the projections of the national pattern presented by the United States Department of Agriculture (USDA) at the National Agricultural Outlook Conference in Washington, D.C. last November, and in more recent reports, may be applied to the District. These projections are generally limited to the current crop marketing year which begins at different dates for the various crops.