Dear FOIA Officer:
Pursuant to the federal Freedom of Information Act, 5 U.S.C. § 552, I request access to and copies of a list of all (a) stockholders of and, if there are any differences, (b) member banks and other financial institutions of the Federal Reserve Bank. The list would include all members and stockholders in all regions and all types of institutions, including but not limited to national banks and state banks. I agree to pay reasonable duplication fees for the processing of this request up to $150. If my request is denied in whole or part, I ask that you justify all deletions by reference to specific exemptions of the act. I will also expect you to release all segregable portions of otherwise exempt material. I, of course, reserve the right to appeal your decision to withhold any information or to deny a waiver of fees. I look forward to your reply within 20 business days, as the statute requires. Thank you for your assistance. Sincerely, Mitchell Langbert, Ph.D. firstname.lastname@example.org
The Fed's response
Federal Reserve Act
Section 5. Stock Issues; Increase and Decrease of Capital
1. Amount of shares; increase and decrease of capital; surrender and cancellation of stockThe capital stock of each Federal reserve bank shall be divided into shares of $100 each. The outstanding capital stock
shall be increased from time to time as member banks increase their capital stock and surplus or as additional banks
become members, and may be decreased as member banks reduce their capital stock or surplus or cease to be members.
Shares of the capital stock of Federal reserve banks owned by member banks shall not be transferred or hypothecated.
When a member bank increases its capital stock or surplus, it shall thereupon subscribe for an additional amount of
capital stock of the Federal reserve bank of its district equal to 6 per centum of the said increase, one-half of said
subscription to be paid in the manner hereinbefore provided for original subscription, and one-half subject to call
of the Board of Governors of the Federal Reserve System. A bank applying for stock in a Federal reserve bank at
any time after the organization thereof must subscribe for an amount of the capital stock of the Federal reserve bank
equal to 6 per centum of the paid-up capital stock and surplus of said applicant bank, paying therefor its par value plus o
ne-half of 1 per centum a month from the period of the last dividend. When a member bank reduces its capital stock or
surplus it shall surrender a proportionate amount of its holdings in the capital stock of said Federal Reserve bank.
Any member bank which holds capital stock of a Federal Reserve bank in excess of the amount required on the
basis of 6 per centum of its paid-up capital stock and surplus shall surrender such excess stock. When a member
bank voluntarily liquidates it shall surrender all of its holdings of the capital stock of said Federal Reserve bank and
be released from its stock subscription not previously called. In any such case the shares surrendered shall be
canceled and the member bank shall receive in payment therefor, under regulations to be prescribed by the Board of
Governors of the Federal Reserve System, a sum equal to its cash-paid subscriptions on the shares surrendered and
one-half of 1 per centum a month from the period of the last dividend, not to exceed the book value thereof, less any
liability of such member bank to the Federal Reserve bank.
I mailed the Fed the following inquiry, to which it did not respond:
Thanks for your help.
This is the list of Fed member banks and stockholders. It should be available on Scribd by clicking on the link.