The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FED ER AL RESERVE BANK O F NEW YORK [ Circular No. 8 06 21 February 28, 1977 J Rules Regarding Availability of Information Rules of Organization To A ll M ember Banks, and Others Concerned, in the Second Federal Reserve D istrict: Enclosed are copies of amendments to the following Rules of the Board of Governors of the Federal Reserve System— (a) R u le s R e g a r d in g A v a ila b ility of I n fo rm a tio n . The amendment, effec tive March 12, 1977, changes the provision relating to material exempted from disclosure by statute to conform it to section 5(b ) of the Government in the Sunshine Act (P.L. 94-409). (b) R u le s of O rg a n iza tio n . The amendments, effective October 29, 1976, contain updated descriptions of the offices and divisions of the Board of Governors. Additional copies of the enclosures will be furnished upon request. P aul A. V olcker, President. Board of Governors of the Federal Reserve System RULES REGARDING AVAILABILITY OF INFORMATION AM ENDM ENT Effective March 12, 1977, section 261.6(a) (1) is amended to read as follows: SECTIO N 261.6—E X E M PT IO N S FROM DISCLO SURE (a) General rule. * * * (1) is specifically authorized under criteria established by an Executive order to be kept secret in the interests of national defense or foreign policy and is in fact properly classified pursuant to such Executive order, or is specifi cally exempted from disclosure by statute (other than section 552b of Title 5, United States Code) provided that such statute (A ) requires that the matters be withheld from the public in such a manner as to leave no discretion on the issue, or (B ) establishes particular criteria for withholding or refers to particular types of matters to be withheld; For these Rules to be complete, retain: 1) February 19, 1975 revision of the Rules. 2) This slip sheet. PRINTED IN NEW YORK [Enc. Cir. No. 8062] BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM RU LES OF ORGANIZATIO N AMENDMENTS ings; prepares, circulates, and indexes minutes of Effective October 29, 1976, the Rules of Orga the Board; performs special functions inf connec nization of the Board of Governors of the Federal tion with meetings of the Conference of Chairmen Reserve System are amended as follows: 1. Section 3 of the Rules of Organization is of Federal Reserve Banks, Conference of Presi dents of Federal Reserve Banks, Federal Advisory amended to read as follows: Council, Consumer Advisory Council, and other SECTION 3.—CENTRAL ORGANIZATION System groups; provides assistance to the Board in connection with appointment of directors of Fed The Board’s central organization consists of the eral Reserve Banks; makes arrangements for indi following Offices, Divisions, and officials: viduals and groups visiting the Board, both foreign (a) Office of Board Members consists of the and domestic; maintains custody of and provides members of the Board, Counsel to the Chairman, reference service to official records of the Board; Assistants, and Special Assistants to the Board as signed to public affairs and Congressional liaison. handles correspondence and Freedom of Informa (b) Office of Staff Director for Monetary Policy tion requests; secures passports and visas for offi cial foreign travel of System personnel; develops is responsible for FOMC staff activities, prepara management systems for the Office; and provides tion of proposals on monetary policy instruments relief secretarial and stenographic services. including discount rates and reserve requirements, coordination of staff work on regulatory issues (e) Legal Division, headed by the Board’s Gen eral Counsel, advises and assists the Board with closely related to monetary policy and the func tioning of money and capital markets, liaison with respect to legal aspects of its daily operations, in the Trading Desk at the Federal Reserve Bank of cluding applicable statutes, regulations, applica New York, liaison with Government agencies and tions, interpretations, opinions, orders, hearings, private groups in connection with debt and cash litigation, and legislation. management policies, interdepartmental coordina (f) Division of Research and Statistics, headed tion of monetary policy planning with foreign ex by a Director, provides the Board and the Federal change operations, and coordination of System Open Market Committee with the economic analy statistical programs related to monetary policy sis and information needed for current operations, for the formulation of monetary and credit poli operations. (c) Office of Staff Director for Management is cies, and for the exercise of responsibilities with responsible for the planning and coordination of regard to bank regulation; prepares, publishes, and staff operations and organization and for resource interprets a variety of statistical series in the finan management, and supervision of the following cial and non-financial fields; conducts basic re functions: Board building administration and op search relating to the effects of monetary policy erations, Board budget and accounting activities, on economic activity and prices, and to the effects data processing, personnel-related activities, Equal of financial regulation on the structure and func Employment Opportunity, contingency planning tioning of financial markets. operations, and coordination of the banking struc (g) Division of International Finance, headed ture program activities. by a Director, provides the Board and the Federal (d) Office of the Secretary, headed by the Open Market Committee with information and Board’s Secretary, coordinates and handles items economic analysis on international questions affect requiring Board action, including actions under ing U.S. monetary policy and the exercise of regu delegated authority; prepares agenda for Board latory responsibilities; conducts research in these meetings; implements actions taken at Board meet areas; provides staff work in connection with the For this Regulation to be complete retain: 1) Rules of Organization and Rules of Procedure pamphlet effective March 1, 1973. 2) This slip sheet. supervision of foreign operations of the Federal Reserve System, the membership of the Chairman of the Board on the National Advisory Council on International Monetary and Financial Policies, and the role of the Chairman of the Board as U.S. Alternate Governor to the International Monetary Fund. (h) Division of Federal Reserve Bank Opera tions, headed by a Director, advises and assists the Board with respect to matters concerning the plan ning and programs for operation of the Federal Reserve Banks. The Division monitors the imple mentation and achievement of such programs and informs the Board of the status of each program. It provides an appraisal of Reserve Bank building programs, and recommendations on building pro gram matters; provides analysis and recommenda tions for Board policy in the payments mechanism area; provides an appraisal of Reserve Bank com munication and automation plans and proposals and recommendations to the Board in such areas; reviews the lending and credit activities of the Reserve Banks; and maintains liaison with various interested parties on payments mechanism matters. The Division also coordinates the printing and dis tribution of Federal Reserve notes and is jointly responsible with the Bureau of the Mint for the production and distribution of coin. (i) Division of Federal Reserve Bank Examina tions and Budgets, headed by a Director, assists the Board in its management-control responsibili ties with respect to the Federal Reserve Banks and advises the Board on matters concerning opera tions, planning, and programs of the Reserve Banks within its area of responsibility. The Division is responsible for financial examinations of the Fed eral Reserve Banks and for operational reviews of Reserve Bank functions including: protection, fis cal agency, open market, check processing, data processing, communications, coin and currency, audit, and various staff funtions. The Division ad ministers an expense control and budgeting system for collection and analysis of budget and expense data; prescribes accounting principles, standards and related requirements to be followed by the Reserve Banks; and provides certain centralized financial accounting services. The Division also maintains liaison with the Treasury and other Gov ernment agencies and with various interested par ties on matters related to Reserve Bank operations within its area of responsibility. (j) Division of Banking Supervision and Regula- tioa, headed by a Director, coordinates the bank supervisory functions of the System and evaluates the examination procedures of the Reserve Banks; exercises general supervision of the commercial and fiduciary activities of State member banks; ad ministers the supervisory features of laws and regu lations relating to affiliates and bank holding com panies, supervises various foreign banking activities of member banks and foreign banking and financ ing corporations; administers the public disclosure provisions of the Securities Exchange Act of 1934, as amended, in their application to State member banks, and the provisions of the Act giving respon sibility to the Board for regulating security credit transactions; monitors the provisions of various consumer protection statutes, the Currency and Foreign Transactions Reporting Act, and the Civil Rights Act of 1968 in their application to State member banks; processes and presents to the Board applications filed pursuant to the Bank Holding Company Act of 1956, as amended, and the Bank Merger Act and various other applica tions submitted under the provisions of the Federal Reserve Act or related statutes; and advises the Board regarding developments in banking and bank supervisory policies and procedures. (k) Division of Consumer Affairs, headed by a Director, implements consumer affairs legislation for which the Board has responsibility. Its func tions include drafting regulations and interpreta tions pursuant to the Truth in Lending Act (as amended), the Federal Trade Commission Im provements Act, the Equal Credit Opportunity Act (as amended), and the Home Mortgage Disclosure Act, for financial institutions and other firms en gaged in consumer credit and leasing activities. The division also administers these regulations as well as the Fair Credit Reporting Act in their ap plication to State member banks. (l) Division of Personnel, headed by a Director, is responsible for the development and implemen tation of Board personnel policies and programs, and advises and assists the Board on personnel matters pertaining to the Federal Reserve Banks. (m) Division of Administrative Services, headed by a Director, serves as the central procurement, duplicating, communications, and service unit of the Board and advises and assists the Board with respect to such matters. It also performs various administrative functions, including the distribution of Board publications and the operation of the Board’s building and other facilities. (n) Office of the Controller, headed by the Board’s Controller, is responsible for maintaining an effective internal financial management system, including budgeting, accounting, reporting, inter nal and contract auditing, and operational analy ses; determining assessments on the Federal Re serve Banks for funds to cover expenses of the Board; receiving and disbursing the Board’s funds; and handling reimbursement to the Treasury De partment for the printing, issuance, and redemp tion of Federal Reserve notes. (o) Division of Data Processing, headed by a Di rector, supports the Board’s organization through the development, operation, and maintenance of information processing systems. Activities include systems and mathematical statistical analysis, com puter programming, equipment operation, data and production control, advanced planning and imple mentation of computer systems and communica tion networks. The Division develops, collects, and processes statistical information on banking devel opments and on the condition of Federal Reserve Banks and member banks; and designs and pro duces graphics used in economic analysis and in formation presentation. (p) Other personnel. The Board does not employ administrative law judges or hearing officers as regular members of its staff; but, in accordance with applicable provisions of law and in individual cases as the need may arise, the Board obtains and utilizes administrative law judges and hearing offi cers, whose functions in such capacity are appro priately separated, as required by law, from inves tigative and prosecuting functions of the staff. 2. Section 4 and the Appendix are revised as follows: SECTION 4.—FIELD ORGANIZATION * * * The locations of the twelve Federal Reserve Banks and the twenty-five branches and the boundaries of the Federal Reserve district and branch territories are shown in the Appendix. * * * APPENDIX A d d ress F e d e r a l R e s e r v e B an k BOSTON 30 Pearl Street, Boston, Massachusetts 02106 NEW YORK Buffalo Branch 33 Liberty Street (Federal Reserve P.O. Station), New York, New York 10045 160 Delaware Avenue (P.O. Box 961), Buffalo, New York 14240 PHILADELPHIA 100 North 6th Street (P.O. Box 66), Philadelphia, Pennsylvania 19105 CLEVELAND Cincinnati Branch Pittsburgh Branch 1455 East Sixth Street (P.O. Box 6387), Cleveland, Ohio 44101 150 East Fourth Street (P.O. Box 999), Cincinnati, Ohio 45201 717 Grant Street (P.O. Box 867), Pittsburgh, Pennsylvania 15230 RICHMOND Baltimore Branch Charlotte Branch Culpeper Communications and Records Center 100 North Ninth Street (P.O. Box 27622), Richmond, Virginia 23261 114-120 East Lexington Street (P.O. Box 1378), Baltimore, Maryland 21203 401 South Tryon Street (P.O. Box 300), Charlotte, North Carolina 28230 P.O. Drawer 20, Culpeper, Virginia 22701 ATLANTA Birmingham Branch Jacksonville Branch Miami Branch 104 Marietta Street, N.W., Atlanta, Georgia 30303 1801 Fifth Avenue, North (P.O. Box 10447), Birmingham, Alabama 35202 515 Julia Street, Jacksonville, Florida 32203 3770 S.W. 8th Street, Coral Gables, Florida 33134 (P.O. Box 520847, Miami, Florida 33152) 301 Eighth Avenue, North, Nashville, Tennessee 37203 525 St. Charles Avenue (P.O. Box 61630), New Orleans, Louisiana 70161 Nashville Branch New Orleans Branch CHICAGO Detroit Branch 230 South LaSalle Street (P.O. Box 834), Chicago, Illinois 60690 160 Fort Street, West (P.O. Box 1059), Detroit, Michigan 48231 ST. LOUIS Little Rock Branch Louisville Branch Memphis Branch 411 325 410 200 MINNEAPOLIS Helena Branch 250 Marquette Avenue, Minneapolis, Minnesota 55480 400 North Park Avenue, Helena, Montana 59601 KANSAS CITY Denver Branch Oklahoma City Branch Omaha Branch 925 Grand Avenue (Federal Reserve Station), Kansas City, Missouri 64198 1020 16th Street (P.O. Box 5228, Terminal Annex), Denver, Colorado 80217 226 Northwest Third Street (P.O. Box 25129), Oklahoma City, Oklahoma 73125 102 South Seventeenth Street, Omaha, Nebraska 68102 DALLAS El Paso Branch Houston Branch San Antonio Branch 400 South Akard Street (Station K), Dallas, Texas 75222 301 East Main Street (P.O. Box 100), El Paso, Texas 79999 1701 San Jacinto Street (P.O. Box 2578), Houston, Texas 77001 126 East Nueva Street (P.O. Box 1471), San Antonio, Texas 78295 SAN FRANCISCO Los Angeles Branch 400 Sansome Street (P.O. Box 7702), San Francisco, California 94120 409 West Olympic Boulevard (P.O. Box 2077, Terminal Annex), Los Angeles, California 90051 915 S.W. Stark Street (P.O. Box 3436), Portland, Oregon 97208 120 South State Street (P.O. Box 780), Salt Lake City, Utah 84110 1015 Second Avenue (P.O. Box 3567), Seattle, Washington 98124 Portland Branch Salt Lake City Branch Seattle Branch Locust Street (P.O. Box 442), St. Louis, Missouri 63166 West Capitol Avenue (P.O. Box 1261), Little Rock, Arkansas 72203 South Fifth Street (P.O. Box 899), Louisville, Kentucky 40201 North Main Street (P.O. Box 407), Memphis, Tennessee 38101