43.9 F
New York

Federal Reserve Bank of New York

The Federal Reserve Bank of New York is one of 12 Reserve Banks that, together with the Board of Governors in Washington DC and the Federal Open Market Committee (FOMC), comprise the Federal Reserve System. The Federal Reserve Bank of New York is also referred to as the New York Fed.

The New York Fed serves the Second Federal Reserve District, covering New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands.

The New York Fed is the largest (by assets), most active (by volume), and most influential of the 12 regional Federal Reserve Banks.

View all terms

Bitcoin

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people operating under the name Satoshi Nakamoto. Bitcoin uses peer-to-peer...

Central Bank

A central bank is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial...

Fractional Reserve Banking

Fractional reserve banking is the most common form of banking practiced by commercial banks worldwide. It involves banks accepting deposits from customers and making...

Reserve Bank of New Zealand

The Reserve Bank of New Zealand is New Zealand's central bank. It was established in 1934, and although not a government department, has been...

Pip

What Is a Pip? Pip is an acronym for "percentage in point". A pip is the smallest price move that an exchange rate can make...