Financial Services

Roseann Stichnoth (bio)
Executive Vice President
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The Financial Services Group fosters the integrity, efficiency and accessibility of U.S. dollar payment and settlement systems in support of U.S. financial stability and economic growth.

Business Development
  • Encompasses the Bank's "sales force" whose activities include onsite sales calls to depository institutions and sales presentations. Also provides payment system information to the financial community.
  • Operates much like a correspondent banking department.
Cash and Custody
  • Receives, processes and distributes new and previously circulated currency and coin to depository institutions to meet public demand for legal tender.
  • Accepts unfit and excess cash from depository institutions, government agencies and others.
  • Destroys unfit currency.
  • Distributes new or fit currency both domestically and internationally through a global distribution network of Extended Custodial Inventory (ECI) sites in foreign countries that the Bank manages for the Federal Reserve System.
  • Handles and services physical securities issued by the U.S. Treasury and other government and international organizations.
  • Acts as custodian for other physical valuables as well, including gold bullion maintained by the Bank for foreign central banks.
Electronic Payments
  • Provides customer support for the National Settlement Service.
  • Manages extensions for the Fedwire Funds, Fedwire Securities and National Settlement Services.
  • Assists computer interface customers in testing their systems.
  • Provides technical and operational support to other Reserve Banks.
International Treasury Services
  • Manages a single hub for international payments and collections on behalf of the Department of the Treasury, Financial Management Services.
  • Processes government vendor and benefit payments for more than 50 government agencies across 150 countries.
  • Continues to meet Treasury’s strategic goal for international cash management by facilitating the simplification of point to point solutions through rapid development and consolidation of various government cross-border systems.
Group Support Services
  • Provides budgetary, analytical, communications and administrative support to functions within the Financial Services Group.