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The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States.It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands.
The act established twelve regional Federal Reserve Banks, including the Federal Reserve Bank of New York, which was originally led by Benjamin Strong Jr. [55] [56] Originally, the Federal Reserve Bank of New York was housed at a small office on 62 Cedar Street. [57]
The center is one of three Federal Reserve Automation Services (FRAS) facilities in the Federal Reserve Banks system. They provide support for mission-critical payment systems. They are the survivors of the FedNet 5-year initiative started in 1990 to reengineer the Federal Reserve's fund transfer system, and consolidate twelve data centers into 3.
The Federal Reserve Bank of New York holds special status in the system. The Federal Reserve officially identifies Districts by number and Reserve Bank city. [25] 1st District (A): Federal Reserve Bank of Boston; 2nd District (B): Federal Reserve Bank of New York; 3rd District (C): Federal Reserve Bank of Philadelphia
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In 2002 he joined the Federal Reserve Bank of San Francisco as a research advisor, and by 2009 had become its executive vice president and director of research. [6] He took office as president and CEO of the Federal Reserve Bank of San Francisco in 2011. [6] Williams became president and CEO of the Federal Reserve Bank of New York on June 18 ...