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  The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
  
  The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
  
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Photo Gallery

The Check Department's 803 machines.

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Financial Services Group

Before the advent of computers, checks were added, endorsed and sorted at the New York Fed using the Check Department's 803 machines. The first computer for the processing of checks came into the Bank during the 1960s. Today, everything is done by high-speed computers. (c.1940)

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