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.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
The Federal Reserve Bank of New York's Open Market Trading Desk is making the following change to the System Open Market Account (SOMA) securities lending program:
Effective June 1, 2010, the New York Fed will collect all SOMA securities lending related fees on a daily basis. Previously, fees associated with failure to return borrowed securities at original maturity were typically collected upon settlement of the loan return. All other terms and conditions remain unchanged.