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.
The most frequently requested credit product was a business line of credit, yet it had a denial rate of 63 percent. With the exception of vehicle or equipment financing, which had the highest approval rate of 63%, products that require collateral pledges seem harder for applicants to obtain in an environment of depressed asset and real estate values.