The Federal Reserve Bank of New York is the most important of the twelve Federal Reserve Banks of the United States. It is located at 33 Liberty Street, New York, NY with a secondary office in Buffalo, New York. It is responsible for the Second District of the Federal Reserve System, which encompasses New York state, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the Virgin Islands. Federal Reserve Districts The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches. ... 33 Liberty Street is the current home of the Federal Reserve Bank of New York. ... New York, New York and NYC redirect here. ... State nickname: Empire State Other U.S. States Capital Albany Largest city New York Governor George Pataki Official languages None Area 141,205 km² (27th)  - Land 122,409 km²  - Water 18,795 km² (13. ... Nickname: Location of Buffalo in New York State County Government  - Mayor Byron Brown (D) Area  - City 52. ...

Largest regional Federal Reserve Bank

Since the founding of the Federal Reserve banking system, the Federal Reserve Bank of New York in Manhattan's Financial District has been where monetary policy in the United States is implemented, although policy is decided in Washington by the Board of Governors of the Federal Reserve System. The New York Federal reserve is the largest, in terms of assets, and the most important of the twelve regional banks. Operating in the financial capital of the United States, the New York Fed is responsible for conducting open market operations -- the buying and selling of outstanding U.S. Treasury securities. Note that the responsibility for issuing new U.S. Treasury securities lies with the Bureau of the Public Debt. In 2003, Fedwire, the Federal Reserve's system for transferring balances between it and other banks, transferred $1.8 trillion a day in funds, of which about $1.1 trillion originated in the Second District. It transferred an additional $1.3 trillion a day in securities, of which $1.2 trillion originated in the Second District. The New York Fed is also responsible for carrying out exchange rate policy by buying and selling dollars at the direction of the Federal Reserve's Board of Governors. The New York Federal Reserve is the only regional bank with a permanent vote on the Federal Open Market Committee and its president is traditionally selected as the Committee's vice chairman. The current president is Timothy F. Geithner. Manhattan is a borough of New York City, New York, USA, coterminous with New York County. ... A board of governors is usually the governing board of a public entity. ... The Fed redirects here. ... Open Market Operations are the means by which central banks control the liquidity of the national currency. ... Treasury securities are government bonds issued by the United States Department of the Treasury through the Bureau of the Public Debt. ... The Bureau of Public Debt is an agency of the Treasury Department, located in Parkersburg, West Virginia, that borrows money needed to operate the Federal Government and accounts for the resulting debt. ... Fedwire, which is operated by the Federal Reserve, is a Real Time Gross Settlement system that enables financial institutions to electronically transfer funds amongst its more than 9,500 participants. ... The Federal Open Market Committee (FOMC), a component of the Federal Reserve System, is charged under U.S. law with overseeing open market operations in the United States, and is the principal tool of US national monetary policy. ... Timothy F. Geithner, President of the New York Fed Timothy F. Geithner is the 9th president of the Federal Reserve Bank of New York. ...

The New York Fed opened for business on November 16, 1914 under the leadership of Benjamin Strong Jr., who was previously president of the Bankers Trust Company. He led the Bank until his death in 1928. The Bank grew rapidly during the early years, necessitating the need for a new home. Benjamin Strong Jr. ...

33 Liberty Street

Main article: 33 Liberty Street

A public competition for design of the building was held and the architectural firm of York & Sawyer submitted the winning design reminiscent of the palaces in Florence, Italy. The bank moved to its current location in 1928. Image File history File links Metadata No higher resolution available. ... 33 Liberty Street is the current home of the Federal Reserve Bank of New York. ...

The Federal Reserve Bank of New York maintains a vault that lies 86 feet below sea level, resting on Manhattan bedrock. By 1927, the vault contained ten percent of the world's official gold reserves. Currently, it is reputedly the largest gold repository in the world (though this cannot be confirmed as Swiss Banks do not report their gold stocks). In the US The FRBNY's stocks are larger even than Fort Knox, it is 80 feet (25 m) beneath the street and holds approx 5,000 tonnes of gold bullion ($90 billion worth at 2007 prices). The gold is owned by many foreign nations, central banks and official international organizations. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it "protects" at no charge as a gesture of good will to other nations. Free tours of the vault are available to the public. // Gold ingots, like these from the Bank of Sweden, form the base of many monetary systems Gold reserves (or gold holdings) are held by central banks as a store of value. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Standard atomic weight 196. ... The United States Bullion Depository is a fortified vault building located near Fort Knox, Kentucky which is used to store a large portion of United States official gold reserves, as well as from time to time, other precious items belonging to, or entrusted to, the United States of America. ...

Past presidents

Presidents of the bank since its founding have been:

• Timothy F. Geithner, 2003 - present
• 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

Timothy F. Geithner, President of the New York Fed Timothy F. Geithner is the 9th president of the Federal Reserve Bank of New York. ... William J. McDonough, born April 21, 1934, was the 8th president of the Federal Reserve Bank of New York (1993 - 2003) and served as Chairman of the Public Company Accounting Oversight Board ( June 2003 - November 2005). ... E. Gerald Corrigan (born June 13, 1941) is an American banker and former president of the Federal Reserve Bank of New York. ... Anthony M. Solomon, born December 17, 1919, was Undersecretary of the Treasury for Monetary Affairs during the Carter administration, and President of the Federal Reserve Bank of New York between 1980 and 1985. ... Economist Paul Adolph Volcker (September 5, 1927 - ) born in Cape May, New Jersey, is best-known as the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan (from August 1979 to August 1987). ... Alfred Hayes (1910 – October, 1989) was an American banker and an expert in international finance. ... George L. Harrison George L. Harrison (January 26, 1887 - March 5, 1958) was an American banker, insurance executive and advisor to Secretary of War Henry L. Stimson during World War II. Born in San Francisco, California, he was educated at Yale University and Harvard Law School and served as clerk... Benjamin Strong Jr. ...

Fictional accounts

• The 1995 Bruce Willis action movie Die Hard: With a Vengeance depicts a daring robbery of the New York Fed's gold depository.

Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... Walter Bruce Willis (born March 19, 1955) is a German-American actor and singer. ... The introduction to this article provides insufficient context for those unfamiliar with the subject matter. ... Die Hard: With a Vengeance, the third film in the Die Hard series starring Bruce Willis as policeman John McClane, adds Samuel L. Jackson as Zeus Carver, Willis reluctant partner. ...

See also

• Federal Reserve Bank
• Economy of New York City
• Official gold reserves

Federal Reserve Districts The United States Federal Reserve System consists of twelve Federal Reserve Banks, each responsible for a particular district, and some with branches. ... The NASDAQ MarketSite in Times Square. ... // Gold ingots, like these from the Bank of Sweden, form the base of many monetary systems Gold reserves (or gold holdings) are held by central banks as a store of value. ...

External links

• Official site
• Maps and aerial photos for 40°42′30″N 74°00′31″W / 40.708432, -74.008493Coordinates: 40°42′30″N 74°00′31″W / 40.708432, -74.008493
  • Maps from WikiMapia, Google Maps, Live Search Maps, Yahoo! Maps, or MapQuest
  • Topographic maps from TopoZone or TerraServer-USA