The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
NEW YORK—The Federal Reserve Bank of New York Thursday approved the notice by Summit Bancorp., Princeton, N.J., to acquire Collective Bancorp, Inc., Egg Harbor City, N.J. The Federal Reserve Bank also approved the application by Summit Bank, Hackensack, N.J., to merge with Collective Bank, Egg Harbor City, N.J., and incident thereto, to establish branches.
According to standard procedure, the proposed bank merger cannot be completed for 15 days.
Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.