Federal Reserve Bank of Boston

Federal Reserve Bank of Boston Type: Independent Agencies Parent organization: Federal Reserve System Employees: 1000 Executive: President and CEO Budget: Not publicly specified (self-funding organization) Address: 600 Atlantic Ave, Boston, MA 02210 Website: https://www.bostonfed.org Creation Legislation: Federal Reserve Act of 1913 Wikipedia: Federal Reserve Bank of Boston

Federal Reserve Bank of Boston [{"name":"Federal Reserve Bank of Boston","title":"\u003Ca class=\"mw-selflink selflink\"\u003EFederal Reserve Bank of Boston\u003C\/a\u003E","lat":42.35274,"lon":-71.05337,"otherValues":{"HeadquartersAddress":"600 Atlantic Ave, Boston, MA 02210"}}] This map created from a Cargo query ()

Mission To promote the stability, integrity, and efficiency of the U.S. economy and financial system. The Boston Fed serves the First Federal Reserve District by implementing monetary policy, supervising financial institutions, and providing payment services.

Services Monetary policy implementation; bank supervision; payment services; economic research; community development;

Regulations

Federal Reserve Bank of Boston

File:Seal of the United States Federal Reserve System.svg Federal Reserve Seal
File:Federal Reserve from South Boston.jpg Headquarters
Headquarters	Federal Reserve Bank Building 600 Atlantic Avenue Boston, Massachusetts, U.S.
Established	May 18, 1914 (1914-05-18)
President
Central bank of	First District Template:Country data Massachusetts Template:Country data Maine Template:Country data New Hampshire Template:Country data Rhode Island Template:Country data Vermont Parts of: Template:Country data Connecticut
Preceded by	Eric S. Rosengren
Succeeded by	Susan Collins
Website	bostonfed.org
The Federal Reserve Bank of Boston is one of twelve regional banks that make up the Federal Reserve System

The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County. The code of the Bank is A1, meaning that dollar bills from this Bank will have the letter A on them. The Boston Fed describes its mission as promoting "growth and financial stability in New England and the nation". The Boston Fed also includes the New England Public Policy Center.

Current Federal Reserve Bank of Boston president is Susan Collins, who is the first Black woman and the first woman of color to lead any of the 12 regional Federal bank branches.

It has been headquartered since 1977 in the distinctive 614-foot (187 m) tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue, Boston. Designed by architecture firm Hugh Stubbins & Associates, the tower portion of the building is suspended between two towers on either side. From 1922 to 1977, the bank's headquarters were located at 250 Franklin Street, currently occupied by the Langham Hotel Boston. This building was designated a Boston Landmark by the Boston Landmarks Commission in 1978.

Board of directors

The following people serve on the board of directors as of July 2022. Terms expire on December 31 of their final year on the board.

File:Boston Fed map.png

Map of the First District

Class A

Class A

Name	Title	Term Expires
Ronald O'Hanley	Chairman and Chief Executive Officer State Street Corporation Boston, Massachusetts	2025
Jeanne Hulit	President and Chief Executive Officer Maine Community Bank Biddeford, Maine	2023
Sushil Tuli	Chairman and Chief Executive Officer Leader Bank, N.A. Arlington, Massachusetts	2024

Class B

Class B

Name	Title	Term Expires
Meghan Hughes, PhD	President Community College of Rhode Island Warwick, Rhode Island	2025
Kimberly Sherman Stamler	President Related Beal Boston, Massachusetts	2023
Lauren A. Smith, MD	Chief Health Equity and Strategy Officer CDC Foundation Boston, Massachusetts	2024

Class C

Class C

Name	Title	Term Expires
Corey E. Thomas (Chair)	Chairman and Chief Executive Officer Rapid7, LLC Boston, Massachusetts	2024
Lizanne Kindler	Executive Chair and Chief Executive Officer Talbots Hingham, Massachusetts	2025
Roger W. Crandall (Vice Chair)	Chairman, President, and Chief Executive Officer MassMutual Financial Group Springfield, Massachusetts	2023

Governors and presidents

The position was installed under the title of "Governor" until the Banking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president.

#	CEO	Life span	Term start	Term end	Tenure length
Governors
1	Alfred L. Aiken	1870–1946	November 25, 1914	December 20, 1917	3 years, 25 days
2	Charles A. Morss	1857–1927	December 20, 1917	December 31, 1922	5 years, 11 days
3	William P. G. Harding*	1864–1930	January 16, 1923	April 6, 1930	7 years, 80 days
4	Roy A. Young	1882–1960	September 1, 1930	—	—
Presidents
4	Roy A. Young	1882–1960	—	March 31, 1942	11 years, 211 days
5	William W. Paddock	1879–1957	April 1, 1942	May 1, 1944	2 years, 30 days
6	Ralph Flanders	1880–1970	May 1, 1944	February 28, 1946	1 year, 303 days
7	Laurence F. Whittemore	1894–1960	March 3, 1946	October 4, 1948	2 years, 215 days
8	Joseph A. Erickson	1896–1983	December 15, 1948	February 28, 1961	12 years, 75 days
9	George H. Ellis	1920–2005	March 1, 1961	June 30, 1968	7 years, 121 days
10	Frank E. Morris†	1923-2000	August 15, 1968	December 31, 1988	20 years, 138 days
11	Richard F. Syron	1943–	January 1, 1989	March 31, 1994	5 years, 89 days
12	Cathy Minehan	1947–	July 13, 1994	July 20, 2007	13 years, 7 days
13	Eric S. Rosengren	1962–	July 20, 2007	September 30, 2021	14 years, 72 days
–	Kenneth Montgomery Acting		September 30, 2021	July 1, 2022	274 days
14	Susan Collins		July 1, 2022	present	2 years, 206 days

†	Stepped down due to reaching retirement age
*	Died in office

Image gallery

• Federal Reserve Bank of Boston.jpg

  On an overcast day.

• Federalreservebankboston-7.jpg

  The Federal Reserve Bank's position to the rest of the Financial District of Boston.

• Federalreservebankboston-6.jpg

  The parking lot security methods installed for the Federal Reserve Bank of Boston.

• Federalreservebankboston-5.jpg

  The Federal Reserve Bank of Boston building viewed from the back.

• Federalreservebankboston-4.jpg

  The Federal Reserve Bank of Boston viewed from the side at street level. The entire building is covered with a matte aluminum paneling.

• Federalreservebankboston-3.jpg

  The Federal Reserve Bank of Boston building front entrance.

• Federalreservebankboston-2.jpg

  The Federal Reserve Building of Boston viewed from the side.

• Federalreservebankboston-1.jpg

  The Federal Reserve Bank of Boston tower near the South Boston financial district.

• FederalReserveBankBuildingBoston.jpg

  The Federal Reserve Bank Building in Downtown Boston.

See also

• Federal Reserve System
• Federal Reserve Districts
• Federal Reserve Branches
• Federal Reserve Act
• Federal Reserve Bank Building (Boston)
• Structure of the Federal Reserve System

External links

• Boston Fed home page
• History of the Boston Fed
• Boston Branch
• Annual Reports of the Federal Reserve Bank of Boston from 1916 to 1967