New York—Federal Reserve Bank of New York First Vice President Christine Cumming will visit Puerto Rico May 1 and May 2, as part of the Bank’s ongoing outreach within the Second Federal Reserve District. Her trip marks the second time a senior Bank official has visited the island since April last year.

First Vice President Cumming will meet with local banking and business leaders to get a better understanding of economic conditions in the region. She will also travel to the Universidad Interamericana de Puerto Rico to present awards to the winners of the New York Fed’s third annual Puerto Rico Financial Awareness Video Competition—a video contest in which young adults work in teams to create 30-second videos about how to use credit wisely.

The winning video was produced by Universidad Interamericana de Aguadilla students Mildred Ortiz, Joseph Soto and Mario Ramos. Entitled “Abre tu cuenta hoy,” (“Open your account today”), the video encourages young adults to save for the future by opening a bank account.

Open media events:

Tuesday, May 1
4:00 p.m. AST     
First Vice President Cumming will present awards to winners of the 2011 Financial Awareness Video Competition
Location: Universidad Interamericana de Puerto Rico
Oficina del Presidente
Oficina Central del Sistema
Cll Galileo
San Juan, Puerto Rico

Text for First Vice President Cumming is not expected.

All press must RSVP for this event by contacting Rosa Delia Melendez at 787-763-3393 or rdmelen@inter.edu.

Contact:
Kevin Sajdak
212-720-6143
kevin.sajdak@ny.frb.org