Press Release
Terrence Checki to Retire as Head of Emerging Markets and International Affairs Group
October 23, 2013

NEW YORK—Terrence J. Checki, executive vice president and head of the Emerging Markets and International Affairs Group (EMIA) of the Federal Reserve Bank of New York, today announced his intention to retire from the Bank in the first quarter of 2014.  Mr. Checki is also a member of the Bank’s Management Committee.

“Terry has played a unique role in the global economic and financial arena during his long, distinguished career,” said William C. Dudley, president and chief executive officer of the New York Fed.  “He has been a key figure in the management and resolution of virtually every major episode of economic and financial stress, domestically as well as internationally, that occurred during his years of service.  We owe Terry a debt of gratitude for his extraordinary service.”

Prior to leading EMIA, which supports the Bank’s efforts to foster international financial stability and expand international relationships, Mr. Checki held positions in the Bank’s corporate, bank supervision and international affairs areas as well as in the Office of the President. Mr. Checki was named an executive vice president of the Bank in 1995.

During his tenure at the New York Fed, which began in 1967, Mr. Checki functioned as a senior adviser to top Federal Reserve and U.S. Treasury officials during a number of challenging economic and financial developments, including the Latin American debt crisis of the 1980’s and 1990’s, the Asian and Russian financial crises of the 1990’s, the restructuring of numerous countries of the former Soviet Union and the recent difficulties in Europe. Mr. Checki also played an important role in the Fed’s efforts to keep markets and institutions functioning in the aftermath of the 9/11 attacks and during the 2008 financial crisis.

Mr. Checki has received various awards and honors, including the Orden Mexicana del Aguila Azteca and the Medalla de la Republica Oriental del Uruguay, from the governments of Mexico and Uruguay, respectively, and the Foreign Policy Association Medal, which “recognizes individuals who demonstrate responsible internationalism and work to expand public knowledge of international affairs.”

Jack Gutt 
(212) 720-6142

Media Relations

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