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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
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The New York Fed provides a wide range of payment services for financial institutions and the U.S. government.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
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We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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The SOMA in Perspective The New York Fed's Research and Markets Groups recently teamed up on a five-part blog series covering the history and evolution of the Federal Reserve’s System Open Market Account (SOMA), a portfolio used to support implementation of monetary policy. The series, posted on Liberty Street Economics, was conceived to promote a better understanding of how the portfolio generates income, why income has increased in recent years, and why future net income from the portfolio will depend on a wide range of factors and may be more variable for a period of time.
The SOMA Portfolio through Time provides historical context on SOMA portfolio developments and the policy objectives it supports, noting that while the size and composition of the portfolio have played a more passive policy role in the years preceding the financial crisis, this hasn’t always been the case—historically or currently. A History of SOMA Income describes how net income varies over time, and how the recent high remittances to Treasury shouldn’t be considered typical. The authors explain how changes in the size and composition of the SOMA portfolio were intended to promote the Fed’s dual mandate of maximum employment and price stability, and not to produce a financial return. What If? A Counterfactual SOMA Portfolio compares the current SOMA portfolio with one in a counterfactual scenario in which the Fed responded to the financial crisis only by lowering the federal funds target rate and not expanding the size and composition of its balance sheet. More Than Meets the Eye: Some Fiscal Implications of Monetary Policy casts the fiscal implications of monetary policy in a broad context. The authors encourage readers to consider all the ways that monetary policy influences the economy, and, by extension, the government’s tax revenues and expenditures—not just the more easily observable remittances to Treasury from the Federal Reserve. Transparency and Sources of Information on the Federal Reserve’s Operations, Income, and Balance Sheet covers the various ways the public can access information on the Fed’s balance sheet, income, and operations. See also an interactive chart showing SOMA holdings between 1914 and 2012:
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