Federal Reserve Bank (NY) Company Description
The Federal Reserve Bank of New York is the largest in the Federal Reserve System, which oversees US banks. One of 12 regional banks, it issues currency, clears money transfers, and lends to banks in its district. In addition to the duties it shares with other Reserve Banks, the New York Fed trades US government securities to regulate the money supply, intervenes on foreign exchange markets, and stores monetary gold for foreign central banks, governments, and agencies. The New York Fed's district is relatively small (made up of New York, Puerto Rico, the US Virgin Islands, and parts of New Jersey and Connecticut), but the bank is the largest in the Federal Reserve System in assets and volume of transactions.
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The Company Description provides a historical perspective of Federal Reserve Bank (NY)'s organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Federal Reserve Bank (NY)'s evolution in the marketplace.
