Started on December 23, 1913
Call (212) 720-6130
The Federal Reserve Bank of New York fosters the safety, soundness, and vitality of the nationâ??s economic and financial systems.
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The Federal Reserve Bank of New York oversees the Second Federal Reserve District, which includes New York state, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. Though it serves a geographically small area compared with those of other Federal Reserve Banks, the New York Fed is the largest Reserve Bank in terms of assets and volume of activity.
The New York Fed is one of 12 regional Reserve Banks which, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Fed, as the system is commonly called, is an independent governmental entity created by Congress in 1913 to serve as the central bank of the United States.
It is responsible for
â?¢ formulating and executing monetary policy,
â?¢ supervising and regulating depository institutions,
â?¢ providing an elastic currency,
â?¢ assisting the federal government's financing operations, and
â?¢ serving as the banker for the U.S. government.
In addition, the Federal Reserve System has important roles in operating the nation's payments systems, protecting consumers' rights in their dealings with banks and promoting community development and reinvestment.
The New York Fed shares in the responsibilities with the other Reserve Banks and has several unique responsibilities, including conducting open market operations, intervening in foreign exchange markets, and storing monetary gold for foreign central banks, governments and international agencies. Foremost among its functions is the implementation of monetary policy, one of the three missions of the New York Fed. The other two are supervision and regulation, and international operations.
New York Fed Joins Facebook
Liberty Street Economics Blog Launches
President Dudley on the Regional Road
William C. Dudley
New York Fed Joins Twitter
Financial Crisis of 2007-2008
Check Processing Consolidation
Timothy F. Geithner
Protection Officers Get Federal Law Enforcement Status
New York Fed Works to Keep Financial Systems Up After 9/11
New York Fed Launches Public Website
First Fed Challenge is Held
William J. McDonough
East Rutherford Operations Center Opens for Business
Stock Market Crash of 1987
E. Gerald Corrigan
President Carter Commends New York Fed Staff
Anthony M. Solomon
Utica Office Opens for Business
Paul A. Volcker
Record Crowds for U.S. Treasury Notes
Building Designated City Landmark
Madeline H. McWhinney, First Female Officer
Repurchase Agreements Support U.S. Economy
Liberty Street Side of Building Exposed
Conference of the Chairmen of the Federal Reserve Banks
Buying a Warplane: New York Federalist
Permanent Seat on the Federal Open Market Committee (FOMC)
Accounts for Foreign Governments
William Street Addition Completed
Purchase of the Montauk Building
Bank Holiday of 1933
Stock Market Crash of 1929
George L. Harrison
Cash Transfer to New Vaults
Main Building Opens for Business
Beginnings of Open Market Operations
Laying the Cornerstone
Early Academic Publications
Annex Building Construction
Buffalo Branch Opens
Planning for FedwireÂ®
Purchase of Main Building Site
Move into Equitable Building
Open for Business
First Board Meeting
New York Fed Incorporated
Started on December 23, 1913