Federal reserve bank of new york gold

The Federal Reserve Bank of New York (FRBNY) is one of the 12 regional Federal Reserve Banks in the United States, and it plays a crucial role in the country's monetary policy and gold reserves.

Here are some key facts about the FRBNY's gold reserves:

  1. Gold holdings: The FRBNY holds approximately 6,300 tons of gold, which is valued at around $200 billion at current prices. This is the largest gold reserve held by any central bank in the world.
  2. Gold vault: The FRBNY's gold is stored in a secure vault located beneath the bank's headquarters in Lower Manhattan. The vault is designed to withstand natural disasters and is protected by advanced security systems.
  3. Gold bars: The FRBNY's gold is stored in the form of gold bars, which are stamped with the official mark of the London Bullion Market Association. The bars are made of 99.9% pure gold and weigh around 400 troy ounces each.
  4. Gold storage: The FRBNY stores gold on behalf of foreign governments, central banks, and other official institutions. The bank also stores gold for private individuals and companies, but this is a relatively small portion of its total gold holdings.
  5. Gold transactions: The FRBNY facilitates gold transactions between its customers, including the sale and purchase of gold. The bank also provides gold storage and management services to its customers.
  6. Gold reserves: The FRBNY's gold reserves are used as collateral for the bank's lending activities and are also used to settle international transactions. The bank's gold reserves are not used to back the US dollar or to support the US economy.
  7. Gold sales: The FRBNY has sold some of its gold reserves in recent years to raise capital and to support the bank's lending activities. However, the bank has also purchased gold from time to time to replenish its reserves.
  8. Gold storage facilities: The FRBNY has storage facilities in other locations, including the Federal Reserve Bank of Chicago and the Federal Reserve Bank of San Francisco. These facilities are used to store gold and other precious metals on behalf of the bank's customers.

Overall, the Federal Reserve Bank of New York plays a critical role in the global gold market, and its gold reserves are an important part of the bank's operations.