The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the Federal Reserve System. Our bank represents the ninth of the 12 Federal Reserve districts and includes Montana, the Dakotas, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan. This basic structure has a long history.
The Bank of Greece, as the supervisory authority, has indeed been adapting its regulatory and supervision apparatus to deal with the new challenges, and has encouraged the banking sector to maintain a high Capital Adequacy Ratio (13% at the end of last year).