What Is the Federal Housing Administration (FHA)? The term Federal Housing Administration (FHA) refers to a U.S. agency that provides mortgage insurance to FHA-approved lenders. The FHA was established in 1934 by the U.S. government and became part of the U.S. Department of Housing and Urban Development (HUD) in 1965. The FHA funds its operations with income
What Is the Federal Reserve System (FRS)? The Federal Reserve System (FRS) is the central bank of the United States. Often simply called the Fed, it is arguably the most powerful financial institution in the world. It was founded to provide the country with a safe, flexible, and stable monetary and financial system. The Fed
What Is the Federal Reserve Bank of Atlanta? The Federal Reserve Bank of Atlanta is one of 12 Federal Reserve Banks, and represents the sixth district in the U.S. Its territory includes the states of Alabama, Florida, Georgia, as well as portions of Tennessee, and the southern counties of Mississippi and Louisiana. The bank maintains branch offices in Birmingham
What Is the Federal Reserve Bank of Chicago? The Federal Reserve Bank of Chicago is one of 12 reserve banks in the Federal Reserve System (FRS). The bank is responsible for the seventh district, whose territory includes Iowa and parts of the states of Indiana, Illinois, Wisconsin and Michigan. Key Takeaways The Federal Reserve Bank of Chicago
What Is the Federal Reserve Bank of Kansas City? The Federal Reserve Bank of Kansas City is one of 12 reserve banks in the Federal Reserve System (FRS). Informally referred to as the Kansas City Fed, it is responsible for the tenth district, which covers Colorado, Kansas, Nebraska, Oklahoma, and Wyoming, a well as 43
What Is the Federal Reserve Bank of Minneapolis? The Federal Reserve Bank of Minneapolis is one of 12 reserve banks in the Federal Reserve System (FRS). The bank is responsible for the Ninth Federal Reserve District whose territory includes Montana, North Dakota, South Dakota, and its home state of Minnesota, as well as parts of Wisconsin
What Is the Federal Reserve Bank of New York? The Federal Reserve Bank of New York, or New York Fed, is the Federal Reserve bank that is responsible for the second district and is located in New York City. The Federal Reserve Bank of New York is the most important of the 12 Reserve banks
What Is a Family Limited Partnership (FLP)? A family limited partnership (FLP) is an arrangement in which family members pool money to run a business project. Each family member buys units or shares of the business and can profit in proportion to the number of shares they own, as outlined in the partnership operating agreement.
What Is a Family Office? A family office is a private wealth management advisory firm that serves ultra-high-net-worth individuals (HNWI). Family offices are different from traditional wealth management shops in that they offer a total solution to managing the financial and investment needs of an affluent individual or family. For example, in addition to financial
What Is a Family of Funds? A family of funds (or fund family) includes all the separate funds managed by a single investment company. For instance, all of the mutual funds offered by Vanguard would be part of the same family of funds. Investing broadly across different funds from the same family of funds can
