The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
FR H-6 Notifications Related to Community Development and Public Welfare Investments of State Member Banks Pursuant to Section 208.22 of Regulation H
Regulation H requires state member banks engaging in permissible community development and public welfare investments provide notice of such investments to the Federal Reserve Bank in their District. The statutory provision authorizes state member banks (SMBs) to make investments designed primarily to promote the public welfare to the extent permissible under state law and subject to regulation by the Board. Regulation H permits SMBs to make certain public welfare investments without prior approval so long as the aggregate of such investments does not exceed 5 percent of the capital stock and surplus of the SMB, the bank is well capitalized and well managed, and the investment does not expose the SMB to liability beyond the amount of the investment.