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The Federal Reserve Bank of New York seeks to promote the safety, soundness and vitality of regional, national and international financial systems through its works as supervisor, economic policy advisor and financial service provider in the Second District.

Features

Electronic Applications (E-Apps) The Federal Reserve has developed an internet-based system for electronically submitting application documents in a secure environment. Starting January 25, 2010, banking organizations or authorized representatives, such as law firms or consulting firms, can register to use E-Apps. E-Apps provides numerous benefits, including a reduction in copying and shipping expenses, as well as a faster and more efficient way of submitting important documents.

Senior Supervisors Group issues report on risk management practices October 21, 2009

Extended Custodial Inventory Program: Request for Information The New York Fed is asking depository institutions to propose one or more new geographic sites for possible inclusion in its Extended Custodial Inventory (ECI) program or, if applicable, to propose the addition of a new ECI operation to an existing geographic location. If you are interested in learning more about responding to this request for information, contact David Duttenhofer.

Federal Reserve Consumer Help A new centralized resource that consolidates and streamlines the Federal Reserve’s consumer complaint and inquiry program, FRCH will assist you in filing complaints against a financial institution, answer questions about banking or financial institution practices and offer help in understanding federal consumer protection laws.

Recent Speeches

Lessons of the Crisis: The Implications for Regulatory Reform Remarks by President William C. Dudley at the Partnership for New York City Discussion, New York City January 20, 2010

Research Highlights

Why Are Banks Holding So Many Excess Reserves? Authors Todd Keister and James McAndrews show that while the high level of reserves in the U.S. banking system during the financial crisis reflects the large scale of the Federal Reserve’s policy initiatives, it conveys no information about the effect of these initiatives on bank lending or on the level of economic activity. By Todd Keister and James J. McAndrews, Current Issues in Economics and Finance (15) 8, December 2009

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