Kansas City Fed Facts

• The Federal Reserve Bank of Kansas City opened for business with about 30 employees on November 16, 1914, in rented quarters across the street from where it now stands. The current building at 925 Grand Blvd., designed especially for this Reserve Bank, was completed in 1921.
  
  
• When the Federal Reserve Bank of Kansas City opened in the current building in 1921, it was advertised that there was space for lease above the "fly line," the elevation above which flies could not reach. Thus, tenants could open windows in summer without being bothered by flies.
  
  
• At one time the Kansas City Fed building housed tenants. Most notable was former President Harry S. Truman, who had an office on the 11th floor from the time he left the presidency in 1953 until his offices were completed in 1957 at the Truman Library in Independence, Mo.
  
  
• Gold was stored at the Kansas City Fed for 20 years from 1914 to 1934. In 1934, Federal Reserve Banks were required to turn all of their gold over to the U.S. Treasury. The only gold at the Kansas City Fed now is one gold bar, on loan from the U.S. Treasury, which is on display in the Bank's Visitors Center.
  
  
• During an average week, $66 million in unfit currency is shredded at the four Tenth District offices. Earlier, unfit currency was burned. The Federal Reserve stopped burning currency in the early 1980s because of problems with air pollution and because shredding is more efficient.
  
  
• In 1999, the Federal Reserve Bank of Kansas City earned $881 million. After deducting operating expenses, paying dividends to member banks, and making other payments, the Bank transferred $663 million to the U.S. Treasury.
  
  
• Missouri is unique in that it is the only state with head offices for two Federal Reserve Banks: Kansas City and St. Louis.
  
  
• The original vault built in the Kansas City Fed building is still in use. The door for this vault weighs 35 tons and the frame 15 tons. In September 1921, it took a tractor, two five-ton trucks, and a team of four horses to haul the door and frame the ten blocks from the railroad yard.