Federal Reserve Bank of New York

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Federal Reserve Bank of New York

 

one of the Federal Reserve banks of the Federal Reserve System of the USA, in which it occupies a leading position. Established in 1914, the Federal Reserve Bank of New York is located in the largest financial center of the USA; it maintains a branch in Buffalo, N.Y. The bank, in addition to carrying out the internal functions of the central bank, also acts as an agent of the US Treasury in financial transactions abroad and helps regulate the exchange rate of the US dollar. In December 1976 the bank’s total balance was $32 billion. Its capital and reserves totaled $500 million, and its issued currency amounted to $21.7 billion. Reserves of member banks totaled $4.8 billion. The US Treasury’s account was $2.5 billion, and government bonds amounted to $27.6 billion.

References in periodicals archive ?
Unidentified hackers had stolen USD81m from Bangladesh Bank's account at the New York Fed in February 2016.
Hackers stole a total $101 million from Bangladesh's account at the New York Fed in February last year.
The purpose of the council is to provide information and insight to the New York Fed from the perspective of community depository institutions.
The New York Fed chief brushed aside recent weak price data as a trend that will probably reverse, suggesting officials might be willing to look past the slowdown even as it becomes more sustained.
He maintained his stance that both SWIFT and the New York Fed were responsible for the theft.
Yellen will speak on the economy and monetary policy Friday morning against a backdrop of recent hawkish rhetoric from two of her top lieutenants - New York Fed President William Dudley and Fed Vice Chair Stanley Fischer.
amp;nbsp;in recent years, the level of new card issuance to this group has been strong and is now approaching pre-recession levels," the New York Fed said in its report.
The New York Fed serves the Second Federal Reserve District.
Mr Muhith said the US bank had "no way to avoid their responsibility", but in a statement, the New York Fed said it had not detected any hacking attempts and there was "no evidence that any Fed systems were compromised".
The US currency took a beating on Wednesday after New York Fed President William Dudley said financial conditions were considerably tighter and a weakening outlook for the global economy would have to be taken into account, he added.
The charges against ex-banker Rohit Bansal and the source of the documents, New York Fed banker Jason Gross, were filed by Manhattan U.
Previous research by the New York Fed has found that younger Americans with student loans are less likely to take out mortgages than those without student debt.

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