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.
During the three months that ended March 31, the dollar appreciated 8.8 percent against the German mark and 6.9 percent against the Japanese yen, and 7.5 percent on a trade-weighted basis against the other G-10 nations' currencies, the report noted.
The report noted that U.S. authorities received final repayment during the period from Mexico on a special medium-term swap arrangement. Mexico repaid $3.5 billion to the Treasury's Exchange Stabilization Fund (ESF) on January 16, closing out the special medium-term swap arrangement that was set up on February 21, 1995.
The report to Congress was presented by Peter R. Fisher, executive vice president of the New York Fed and the FOMC's manager for the system open market account, on behalf of the Treasury and the Federal Reserve System.