Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of the most important of the twelve regional banks, which together form the Federal Reserve System of the USA. It is located in the Liberty Street 33 in New York City, New York with an additional office in Buffalo (New York). The Federal Reserve Bank of New York is responsible for the District 2 of the Federal Reserve System, which the New York State, which includes 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the Virgin Islands. The bank was founded in 1913 and has 2,700 employees.

Largest regional Federal Reserve Bank

Since the establishment of the Federal Reserve System adopted by the Board of Governors of the Federal Reserve System in Washington, U.S. monetary policy by the Federal Reserve Bank of New York will be implemented in Manhattan Finance district. The New York Federal Reserve is the most important and after their assets, the largest of the twelve regional banks in the Feds. In New York, the financial capital of the United States, the New York Fed is responsible for the conduct of open market operations, the buying and selling of the Bureau of the Public Debt issued U.S. Treasury Securities. In 2003, Fedwire, which is operated by the Fed in which cash payments between the Fed and commercial banks interbank funds transfer system that moves 1.8 trillion U.S. dollars per day, of which 1.1 trillion originated in their own district, the second Financial District had. In addition, securities transactions worth $ 1.3 trillion were performed daily, of which dated 1.2 trillion dollars from their own Financial District. The New York Fed is also responsible for the implementation of the specified exchange rate policy. In foreign exchange transactions buys and sells dollars for the Treasury of the United States. The president of the New York Fed is represented only one of the twelve presidents of the regional Feds with a permanent seat on the Federal Open Market Committee and acts there traditionally as the vice - president of the committee. The current president of the New York Fed 's William C. Dudley.

The New York Fed took on November 16, 1914 under the leadership of Benjamin Strong Jr., who was previously president of the Bankers Trust Company, its business operations. He led the bank until his death in 1928. Since the bank grew rapidly in the early years, a new larger building was soon needed.

Bank Building 33 Liberty Street

Following a public tender was won by the design of the architects York and Sawyer, which is a throwback to the Florentine Early Renaissance. The bank moved into its present premises in the year of completion of the building in 1924.

The famous vault of the Federal Reserve Bank of New York is located 26 meters below sea level on the cliffs of Manhattan. In 1927, the vault contained 10 percent of the world's official gold reserves. Today is here claims to be the largest gold deposit in the world. There overlaid with about 8,000 tons of gold bullion more gold than gold deposit at Fort Knox, in October 2010, these reserves were worth about 172 billion euros. Unlike in Fort Knox belongs to the stored in New York gold mostly foreign governments, central banks and international organizations. A total of 60 different states have incorporated parts of their gold reserves here, with the U.S. itself claims to only about 6 % belong. As a sign of goodwill towards other states guarded and administered the Federal Reserve Bank, the precious metal for free. If a State chooses, however, to remove the embedded gold from him again, a fee of $ 1.75 per bar due ( as of 2008). There is free public tours are offered beyond.

Previous Presidents

President since the founding of the bank:

  • William C. Dudley, 2009 - present
  • Timothy F. Geithner, 2003 - 2009
  • William J. McDonough, 1993 - 2003
  • E. Gerald Corrigan, 1985 - 1993
  • Anthony M. Solomon, 1980 - 1985
  • Paul Volcker, 1975 - 1979
  • Alfred Hayes, 1956 - 1975
  • Allan Sproul, 1941 - 1956
  • George L. Harrison, 1928 - 1940
  • Benjamin Strong Jr., 1914 - 1928

Representation in movies

  • Once upon a time in America, USA 1984
  • Die Hard: Now more than ever, USA 1995, shows a bank robbery of the gold holdings of the New York Fed
  • Bait - Fette Beute, USA 2000
  • Zeitgeist: Addendum
  • The Obama Deception
Buffalo, New York Fairfield County (Connecticut) Goldreserve Timothy Geithner Alfred Hayes (banker) The Obama Deception: The Mask Comes Off Integrated Authority File
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