As one of the twelve Federal Reserve Banks, "the Minneapolis Fed carries out a variety of Federal Reserve System functions, including operating a nationwide payments system, distributing the nation's currency and coin, supervising and regulating member banks and bank holding companies, and serving as a banker for the U.S. Treasury." The Federal Reserve Bank of Minneapolis was incorporated on May 18, 1914.
Historical information taken from the Minneapolis Fed website.
From the guide to the Federal Reserve Bank of Minneapolis collection, circa 1970, (University of Minnesota Libraries. Northwest Architectural Archives, Manuscripts Division [naa])