Federal Reserve Bank Of New York

The Federal Reserve Bank of New York is the largest in the federal reserve system to oversee US bank activities. It issues currency, clears money transfers, and lends to banks in its district. In addition to the duties it shares with 11 other regional Federal Reserve Banks, the New York Fed trades US government securities to regulate the money supply, intervenes on foreign exchange markets, and stores monetary gold for foreign central banks and governments. The Federal Reserve Bank of New York was founded in 1914 and is based in New York, New York with a regional office in East Rutherford, New Jersey.

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