The Reserve Banks have found it more efficient to have a few central offices perform certain internal support and back-office services - such as managing information technology and payroll - rather than having each Bank conduct them individually. This trend toward consolidation of operations has precipitated significant structural changes at the Reserve Banks. Staff levels have been reduced throughout the System.
Several Reserve Bank Branch offices now have, or soon will have, no remaining financial services operations. These Branches focus on matters such as community affairs, economic information gathering, economic and financial education, and director recruitment. Some Branches have sold their own buildings and operate in leased space.