Federal Reserve Bank Of New York

DEFINITION of 'Federal Reserve Bank Of New York'

The Federal Reserve bank that is responsible for the second district and is located in New York City. The Federal Reserve Bank of New York's territory includes parts of the states of New Jersey and Connecticut, as well as the entire state of New York. It is also responsible for Puerto Rico and the U.S. Virgin Islands.


The Federal Reserve Bank of New York is the largest in of the 12 Reserve banks in the Federal Reserve System in terms of asset value.

BREAKING DOWN 'Federal Reserve Bank Of New York'

The Federal Reserve Bank of New York is responsible for executing the central bank's monetary policy by reviewing price inflation and economic growth, and by regulating the banks within its territory. It provides cash to banks within its district, as well as monitoring electronic deposits. The president of the Federal Reserve Bank of New York, along with the presidents of the other Banks and the seven governors of the Federal Reserve Board, meet to set interest rates every six weeks. This is referred to as the Federal Open Market Committee (FOMC).


Bank notes printed by Federal Reserve Bank of New York are denoted by the mark "B2", which represents the second district ("B" is also the second letter of the alphabet).

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RELATED FAQS
  1. What is the structure of the U.S. Federal Reserve Bank?

    Wonder how the U.S. Federal Bank began and how it works today? Learn how this complex system is structured and how it works ... Read Answer >>
  2. Who determines the reserve ratio?

    Understand what the Federal Reserve is and what it regulates in the U.S. economy. Learn about the reserve ratio and how the ... Read Answer >>
  3. What do banks do to control the bank reserve?

    Understand what the Federal Reserve does in order to expand or contract the economy. Learn what depository institutions can ... Read Answer >>
  4. Why would the Federal Reserve change the reserve ratio?

    Understand the Federal Reserve's monetary policy and the tools it uses to change that monetary policy. Learn about the reserve ... Read Answer >>
  5. What happens if the Federal Reserve lowers the reserve ratio?

    Learn about the Federal Reserve's monetary policy and the tools it uses to control it. Understand what happens if the Federal ... Read Answer >>
  6. How are bank reserve requirements determined and how does this affect shareholders?

    Learn how bank reserve requirements are determined and how bank reserves affect shareholders through improved bank stability ... Read Answer >>
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