Financial Services

Roseann Stichnoth (bio)
Executive Vice President
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The Financial Services Group fosters the integrity, efficiency and accessibility of U.S. dollar payment and settlement systems in support of U.S. financial stability and economic growth.

Business Development
  • Encompasses the Bank's "sales force" whose activities include onsite sales calls to depository institutions and sales presentations. Also provides payment system information to the financial community.
  • Operates much like a correspondent banking department.
Cash and Custody
  • Receives, processes and distributes new and previously circulated currency and coin to depository institutions to meet public demand for legal tender.
  • Accepts unfit and excess cash from depository institutions, government agencies and others.
  • Destroys unfit currency.
  • Distributes new or fit currency both domestically and internationally through a global distribution network of Extended Custodial Inventory (ECI) sites in foreign countries that the Bank manages for the Federal Reserve System.
  • Handles and services physical securities issued by the U.S. Treasury and other government and international organizations.
  • Acts as custodian for other physical valuables as well, including collateral presented by depository institutions to cover discount window borrowings and gold bullion maintained by the Bank for foreign central banks.
Electronic Payments
  • Provides customer support for the National Settlement Service.
  • Manages extensions for the Fedwire Funds, Fedwire Securities and National Settlement Services.
  • Assists computer interface customers in testing their systems.
  • Provides technical and operational support to other Reserve Banks.
International Treasury Services
  • Manages a single hub for international payments and collections on behalf of the Department of the Treasury, Financial Management Services.
  • Processes government vendor and benefit payments for more than 50 government agencies across 150 countries.
  • Continues to meet Treasury’s strategic goal for international cash management by facilitating the simplification of point to point solutions through rapid development and consolidation of various government cross-border systems.
Group Support Services
  • Provides budgetary, analytical, communications and administrative support to functions within the Financial Services Group.