Regional, Community and Foreign Institutions
The Regional, Community and Foreign Institutions function (RCFI) supervises Second District state-chartered regional and community banks that are members of the Federal Reserve System, along with regional and community bank holding companies, regardless of the lead bank's charter. A regional bank has total assets between $10 billion and $50 billion in banking activity while a community bank has total assets less than $10 billion. The function also supervises foreign banking organizations (FBOs) under $50 billion in banking assets as well as foreign representative offices in the District, which cannot engage in depository, lending or other banking activities.
F. Christopher Calabia
F. Christopher Calabia is senior vice president and head of the Regional, Community and Foreign Institutions (RCFI) function in the Financial Institutions Supervision Group at the Federal Reserve Bank of New York. RCFI supervisory specialists assess the safety and soundness of regional, community banks, midsize holding companies, Edge Act corporations and small to medium-sized branches and agencies of foreign institutions located in the Second District. Immediately prior to his current role, Mr. Calabia was head of Complex Financial Institutions Operations, overseeing efforts to strengthen supervisory practices in the field for the largest firms in New York.
Mr. Calabia joined the Federal Reserve Bank of New York in 1993. He is an experienced bank examiner and supervisor and has spent most of his career focused on the analysis of industry trends and regulatory policy, specializing in the regulation of internationally active banks. Between 2003 and 2005, Mr. Calabia was seconded to the Bank for International Settlements (Switzerland) to assist in the development of the global "Basel II" capital requirements for banks.
Mr. Calabia graduated from the Fletcher School of Law & Diplomacy (M.A.L.D.) and the University of Virginia (B.A.). He also studied European Union law and integration at Universität des Saarlandes in Germany as a DAAD Fellow. He is a Member of the Council on Foreign Relations, a U.S.-Japan Leadership Program Fellow, a U.S.-Spain Young Leaders Program Fellow, and a Next Generation Project Fellow at the American Assembly (Columbia University).
The Federal Reserve Bank of New York works within the Federal Reserve System to implement monetary policy, supervise and regulate financial institutions and help maintain the safety, soundness and vitality of our economic and financial systems. As part of the New York Fed's core mission, we supervise and regulate financial institutions in the Second District with the goal of fostering a safe and competitive U.S. and global banking system.