Business & Headquarters
Federal Reserve Bank of New York (FRBNY)
The Federal Reserve Bank of New York serves the second district of the
Federal Reserve system, which includes all of New York State, 12
northernly counties of New Jersey, Fairfield county of Connecticut,
Puerto Rico and the US Virgin Islands. The Bank provides all the same
services to the second district that the other 11 district Federal
Reserve Banks provide to theirs.
The New York Fed has several unique functions that are not performed
elsewhere. These include executing monetary policy on behalf of the
Federal Open Market Committee, the policy making body; all activity in
the foreign exchange market in cooperation with the US Treasury on the
rare occasions when this is done; overseeing the market and the dealers
in the Treasury securities market; interfacing with foreign central
banks and official institutions in these institutions' management of
their dollar holdings; and maintaining a gold vault for safekeeping of
their gold reserves.
Update:
As of September, 2017, the value of gold holdings was $7,840 million
with gold valued at $42.22 per fine troy ounce. This translates to about
5.78 metric tons of gold.
Source:
Federal Reserve