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 ?
Bernanke's latest book, Hank Paulson's 'On the Brink' and the official Financial Crisis Inquiry report, it is clear and worrying that governments have no mechanism for searching the balance sheets of companies that hold enormous life-or-death power over our societies, and that inconceivably massive financial institutions such as the New York Fed have no real system for auditing themselves.
Regulatory documents from the New York Fed were passed on to his friend and ex-colleague, who worked at Goldman Sachs at the time, the person said.
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.
5 percent, the lowest it has been since early 2008," the New York Fed reported.
According to the report, examiners at the New York Fed were afraid to contradict bosses, and Fed employees were often afraid to go against major Wall Street insti-tutions--particularly Goldman Sachs--when making decisions.
In addition, the New York Fed subindexes dropped, as did the new orders and the shipments index.
Her recordings, the stories argued, backed up the suggestion that the New York Fed had still not made changes to its culture based on suggestions from the report.
The New York Fed conducted two surveys on the effects of ObamaCare, with one finding that 21 percent of manufacturers were reducing employment, and three percent were adding jobs.
BlackRock helped the New York Fed manage and then auction mortgage-linked assets that were acquired as part of AIG's bailout.
28 trillion in the third quarter, the New York Fed said in its quarterly household debt and credit report.
On Thursday, New York Fed President William Dudley said that the asset purchases would continue at a higher pace for a longer period if labor market conditions and economic growth were to be less favorable than the Fed's outlook.
However, securities purchased by the New York Fed are apportioned the same day to all 12 Federal Reserve Banks, and there is an annual rebalancing of Federal Reserve Bank balance sheets.

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