Lee C. Bollinger Redesignated Chairman of the New York Fed Board of Directors, Kathryn S. Wylde Redesignated Deputy Chairman

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Press Release

Lee C. Bollinger Redesignated Chairman of the New York Fed Board of Directors, Kathryn S. Wylde Redesignated Deputy Chairman

December 5, 2011

NEW YORK—The Federal Reserve Bank of New York today announced that the Board of Governors of the Federal Reserve System has redesignated Lee C. Bollinger chairman of the New York Fed’s board of directors for 2012. Mr. Bollinger is president of Columbia University and has served as a Class C director since January 2007 and as chairman since 2010.

The Board of Governors of the Federal Reserve System also redesignated Kathryn S. Wylde deputy chairman of the New York Fed’s board of directors for 2012. Ms. Wylde, president and chief executive officer of the Partnership for New York City, has served as a Class C director since July 2009 and as deputy chairman since 2010.

About the Reserve Banks’ Boards of Directors
The New York Fed’s board of directors consists of nine members, three of whom are appointed by the Board of Governors of the Federal Reserve System as Class C directors. The remaining six (three Class A and three Class B directors) are elected by member banks in the Second Federal Reserve District. Class A directors are drawn from the banking community. Class B and C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers.

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