MONDAY, JANUARY 12, 1998

NEW YORK FED NAMES FOUR SENIOR VPs AND SIX VPs

NEW YORK --The Federal Reserve Bank of New York today announced that its board of directors promoted three officers in the bank supervision group and one in the research and market analysis group to senior vice president.

Fred C. Herriman, Jr., has been responsible for the surveillance and report review areas in bank supervision since April 1994 and vice president since July 1995. In August 1997, the area was reorganized and renamed the banking trends area.

Mr. Herriman joined the bank in June 1968 and entered the U.S. Army in December 1968. He returned to the bank in October 1970 as an analyst in banking studies. From March 1972, he held positions of increasing responsibility in various departments and in March 1976, Mr. Herriman was appointed an officer with the title of manager and assigned to domestic banking applications.

He left the bank in November 1978 to join Chemical Bank until January 1990, when he returned to the New York Fed as a senior financial specialist in bank analysis. In July 1991 he was appointed a bank analysis officer and in April 1994, Mr. Herriman was promoted to assistant vice president of domestic bank examinations.

He holds a B.A. degree in economics from Hamilton College and a M.B.A. in economics from New York University.

Elaine D. Mauriello, has been the officer in charge of supervision support since March 1995, and has been on a temporary assignment as the officer in charge of the Utica office since November 1997.

Ms. Mauriello joined the bank in August 1981 as a reports analyst in the statistics department's deposit reports, and in July 1982 she was promoted to reports specialist in market reports. In January 1985 she was appointed staff director of deposit reports.

In July 1986, Ms. Mauriello was appointed an officer of the bank with the title of manager and assigned to personnel. In July 1992, she was promoted to assistant vice president and reassigned to statistics.

She holds a B.A. degree from Newton College, an M.A. degree from Rutgers University, and a M.B.A. from the Graduate School of Business Administration at New York University.

Rona Pocker had been vice president of financial examinations with supervisory responsibility for various domestic and international financial institutions since June 1997.

Ms. Pocker joined the bank in April 1992 as a senior bank examiner in international examinations, and was promoted to supervising examiner in July 1993. In January 1995 she was appointed examining officer in European examinations. In December 1995 Ms. Pocker was appointed assistant vice president in financial examinations.

She holds a B.A. degree from New York University and a M.B.A. from the University of Chicago.

Charles Steindel, has been the head of business conditions and the director of data analysis since December 1995. He had been vice president of domestic research since July 1995.

Mr. Steindel joined the bank in August 1985 as an economist in the financial studies department, and was promoted to senior economist in August 1986. In January 1990 he was appointed a research officer and senior economist and in May 1994, he was named assistant vice president.

Mr. Steindel holds a B.S. degree in mathematics from Emory University and a Ph.D. in economics from the Massachusetts Institute of Technology.

The following officers were promoted to vice president:

Michael J. Recupero was promoted to vice president of automation and systems services. He had been assistant vice president and responsible for the special projects staff in the open systems support department since January 1995.

Mr. Recupero joined the bank in November 1980 as a programmer and was promoted to positions of increasing responsibility in subsequent years. In July 1991, he was appointed an officer of the bank with the title of manager.

He holds a B.B.A. in computer science from Baruch College.

Sarah J. Dahlgren, has been responsible for the Information Systems and Technology Team and the Year 2000 Team in advisory and technical services since November 1997. Prior to her promotion to a vice president in bank supervision, she had been assistant vice president of bank analysis since December 1996.

Ms. Dahlgren joined the New York Fed as a bank examiner in July 1990. She was promoted to senior bank examiner with supervisory responsibility for the bank analysis division in December 1993.

In January 1995 she was appointed a bank supervision officer and assigned to bank analysis and in December 1996, she was promoted to assistant vice president.

Ms. Dahlgren holds a B.A. degree in government from Cornell University and a M.A. degree in public policy from Duke University.

Brian L. Peters, has been responsible for the Risk Assessment and Section 20 Teams since , and the Payment Systems Team since January 1998. Prior to his promotion, he had been assistant vice president in advisory and technical services since December 1996.

Mr. Peters joined the bank in May 1990 as a bank examiner and he was promoted to senior bank examiner in November 1993 and supervising examiner in November 1994. In July 1995 he was appointed an examining officer and assigned to advisory and technical services.

He holds a B.A. degree in economics from Bucknell University and a M.B.A. in finance from New York University's Leonard N. Stern School of Business.

Elizabeth G. Mindlin has been responsible for the human resources operations and support department since December 1993. Prior to being promoted to vice president, she had been assistant vice president of human resources since December 1993.

Ms. Mindlin joined the bank in July 1968 and held positions of increasing responsibility in the electronic payments, auditing and public information areas.

In January 1982 Ms. Mindlin transferred to the management information department and in April 1986, she was designated senior management information analyst. In October 1987 she transferred to accounting and in July 1991, she was appointed an officer of the bank. In July 1992 Ms. Mindlin was assigned to personnel.

She holds a B.S. degree in management from St. Francis College and a M.B.A. in finance from New York University.

HaeRan Kim had been assistant vice president and counsel since April 1994. Ms. Kim joined the bank's legal department in September 1987 and in July 1991, she was appointed an officer of the bank with the title of counsel. From May until December 1995, she was assigned to the Secretary's Office as assistant secretary and continued her assignment to the legal area.

Ms. Kim has a B.A. degree in economics from Smith College and a J.D. from Cornell Law School.

Thomas J. Lawler was promoted to vice president and chief operations officer of the Federal Reserve System's Office of Employee Benefits. He had been assistant vice president of the cash function since December 1993.

Mr. Lawler joined the bank in 1973 and held positions of increasing responsibility in the cash area. In January 1984 he was appointed an officer of the bank with the title of manager and assigned to the currency verification department. From January 1986 until January 1989 he was assigned to the operations support department. In January 1989 he was assigned to the technical development staff and served as liaison to the cash function.

He holds a B.S. degree in finance from Fordham University.

In addition, Arturo Estrella, senior vice president in research and market analysis, has taken on additional bank supervision client work on the development of regulatory capital policy.