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 and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
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.
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.
Acts as custodian for other physical valuables as well, including gold bullion maintained by the Bank for foreign central banks.
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.