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 & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
PETERSON REAPPOINTED CHAIRMAN OF THE BOARD OF THE NEW YORK FED
NEW YORK - The Board of Governors of the Federal Reserve System has redesignated Peter G. Peterson chairman of the board of directors of the Federal Reserve Bank of New York for 2002. Mr. Peterson, who is chairman of The Blackstone Group, New York, N.Y., has been serving as a class C director since January 1996, deputy chairman of the board since November 1998 and chairman since January 2000.
The board of directors of the Federal Reserve Bank of New York consists of nine members, three of whom are appointed by the Board of Governors of the Federal Reserve Systems as class C directors. The remaining six (three class A and three class B directors) are elected by member banks in the Second Federal Reserve District. Class A directors are drawn from among the banking community. Class B and C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers.