Federal reserve bank of new york

The Federal Reserve Bank of New York (FRBNY) is one of the 12 regional Federal Reserve Banks that make up the Federal Reserve System, the central banking system of the United States. The FRBNY is responsible for serving the Second Federal Reserve District, which includes New York State, the 13 counties of the northernmost part of New Jersey, and Fairfield County in Connecticut.

Here are some key facts about the Federal Reserve Bank of New York:

Headquarters: The FRBNY is headquartered in Lower Manhattan, New York City, at 33 Liberty Street.

History: The FRBNY was established in 1914 as one of the original 12 Federal Reserve Banks.

Functions: The FRBNY has several key functions:

  1. Monetary Policy: The FRBNY plays a key role in implementing monetary policy decisions made by the Federal Open Market Committee (FOMC), which sets interest rates and regulates the money supply.
  2. Bank Supervision: The FRBNY supervises and regulates many of the largest and most complex banks in the United States, including JPMorgan Chase, Citigroup, and Bank of America.
  3. Currency: The FRBNY is responsible for distributing currency and coins to financial institutions in its district.
  4. Financial Markets: The FRBNY plays a key role in maintaining stability in financial markets, including the foreign exchange market and the market for government securities.
  5. Research: The FRBNY conducts research on a wide range of economic and financial topics, including monetary policy, banking, and international finance.

Notable Activities: The FRBNY has been involved in several notable activities, including:

  1. Liquidity Provision: During the 2008 financial crisis, the FRBNY played a key role in providing liquidity to financial markets through its emergency lending programs.
  2. Quantitative Easing: The FRBNY has been involved in several rounds of quantitative easing, which involves buying large amounts of government securities to stimulate the economy.
  3. Dodd-Frank Reform: The FRBNY has played a key role in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed in response to the 2008 financial crisis.

Leadership: The FRBNY is led by a President, who is responsible for overseeing the bank's operations and implementing its policies. The current President of the FRBNY is John C. Williams.