No. 2136

FRIDAY, MARCH 7, 1997

NEW YORK FED NAMES NEW VP

NEW YORK -- The Federal Reserve Bank of New York's board of directors appointed a new officer as vice president, the bank announced today.

Paul S. Raines, joined the New York Fed on March 3 as vice president of security control in the automation and systems services group. Prior to joining the bank, he spent three years at the U.S. Postal Service as manager of electronic commerce.

From 1991 to 1993, Mr. Raines was editor-in-chief of the Harvard Journal of World Affairs. Prior to that position, he spent nine years as Satellite Mission Controller and Missile Launch Commander in the U.S. Air Force.

Mr. Raines earned a master's in public administration from Harvard University (1993), a M.S. in space operations from the Air Force Institute of Technology (1987), and a B.S. in international affairs from the United States Air Force Academy (1981).