Atlanta has a sizable financial sector.SunTrust Banks, the seventh largest bank by asset holdings in the United States, has its home office on Peachtree Street in downtown. The Federal Reserve System has a district headquarters in Atlanta the Federal Reserve Bank of Atlanta, which oversees much of the deep South, relocated from downtown to midtown in 2001. Wachovia announced plans in August 2006 to place its new credit‐card division in Atlanta, and city, state and civic leaders harbor long‐term hopes of having the city serve as the home of the secretariat of a future Free Trade Area of the Americas.
