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.
Approval of the Application by New York Community Bancorp, Inc.
July 8, 2005
NEW YORK—The Federal Reserve Bank of New York Tuesday approved the application by New York Community Bancorp, Inc., Westbury, New York, to acquire, through its wholly owned subsidiary, New York Community Bank, Flushing, New York, 100 percent of the voting shares of New York Commercial Bank, Flushing, New York.
According to standard procedure, the proposal cannot be completed sooner than 15 days, or later than 3 months, from the date of this announcement.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.