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.
Approval of Application by The Goldman Sachs Group, New York, New York
July 18, 2011
NEW YORK—The Federal Reserve Bank of New York approved the application filed by The Goldman Sachs Group, Inc., New York, New York, to retain its interest in The First Marblehead Corporation, Boston, Massachusetts, which is the parent of Union Federal Savings Bank, North Providence, Rhode Island, pursuant to Section 4(c)(8) and 4(j) of the BHC Act of 1956, as amended, and Section 225.24 of Regulation Y.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.