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.
Results suggest the ability to access credit remains a widespread growth challenge for small businesses in the region, even among profitable firms. However, the percentage of discouraged firms, defined as not applying due to approval concerns, declined and more firms said they received all the credit they had applied for.