NEW YORK—The Federal Reserve Bank of New York today announced that Brian Sack has withdrawn his resignation and will remain at the Bank as a senior advisor to New York Fed President William C. Dudley, effective June 30, 2012. As a senior advisor, Mr. Sack will provide analytical expertise and guidance with respect to monetary policy, financial markets and the U.S. economy.

Mr. Sack will step down as head of the Markets Group and Manager of the System Open Market Account (SOMA) today as announced on April 5, 2012, and in his new role, he will no longer be involved in the management of the Markets Group or the SOMA portfolio.

Jonathan Freed
212-720-6449
jonathan.freed@ny.frb.org

Andrea Priest
(212) 720-6139
andrea.priest@ny.frb.org