Press Release

New York Fed Names Senior Vice President

August 8, 2005

Calvin A. Mitchell III has been named senior vice president of the Federal Reserve Bank of New York in charge of the Bank's Public Information area. He will serve as spokesman for the Bank, and will have responsibility for internal communications and community affairs. He also will be a member of the Management Committee. The appointment was made by the Bank's board of directors.

Mr. Mitchell, 46, brings to the Bank a range of experience in financial markets, as chief operating officer at Anchor Point Asset Management, an investment fund, as senior vice president at Instinet Corporation, a global electronic agency broker, and at Abernathy MacGregor Group, an investor relations and financial public relations firm.

Earlier in Mr. Mitchell's career, he served in communications positions at the United States Mission to the United Nations, the Department of Treasury, the Department of State, and the White House and National Security Council.

Mr. Mitchell is a graduate of Yale College. He is a resident of New York City.

He succeeds Peter Bakstansky who will retire on September 30, 2005.

Contact:
Linda Ricci
(212) 720-6143
(646) 720-6143
linda.ricci@ny.frb.org