Financial

http://www.bostonfed.org/

Federal Reserve Bank of Boston

One of the 12 regional Federal Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Boston Federal Reserve Bank serves the First Federal Reserve District which consists of Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island and Vermont.



600 Atlantic Avenue
Boston, MA 02210
Local: 617-973-3000 View Public Site

The Federal Reserve is the central bank of the United States. Its unique structure includes

  • a federal government agency, the Board of Governors, in Washington, D.C., and
  • 12 regional Reserve Banks.

Reflecting this structure, which balances centralization with regional presence, the Fed has web sites that are national in scope (see links at right) and regional (see below).

Federal Reserve Districts

Atlanta | Boston | Chicago | Cleveland | Dallas | Kansas City | Minneapolis | New York | Philadelphia | Richmond | San Francisco | St. Louis

Community Affairs in the Federal Reserve System


The Community Affairs program reflects the structure of the Federal Reserve System. Within the framework of a shared mission and goals, each of the twelve Reserve Banks establishes its own programs and responds to local needs in its District. As part of a nationwide entity, the Community Affairs program has the ability to collaborate on projects, to share information and resources, and to work together to accomplish goals at regional and national levels.


Mission
The mission of the Federal Reserve System's Community Affairs program is to support the System's economic growth objectives by promoting community development and fair and impartial access to credit.


Goals


  • The System's Community Affairs program seeks to achieve the following goals through a broad range of activities.
    Foster the active engagement of depository institutions in providing credit and other banking services to their entire communities, including traditionally underserved markets.
  • Facilitate and provide technical assistance for the formation of community development corporations, lending consortia, and other partnerships.

  • Develop and present training programs on methods and financing for affordable housing and economic development.
    Encourage cooperation among community organizations, government agencies, financial institutions, and other community development practitioners to their mutual benefit.

  • Provide information about partnership efforts that support increased access to credit.

  • Sponsor forums such as conferences, workshops, and trade fairs for the exchange of information, ideas, and available resources among lenders, community groups, and government officials.
  • Develop greater public awareness of the benefits and risks of financial services products and of the rights and responsibilities that derive from community investment and fair lending regulations.

  • Disseminate information on special lending programs and resources, regulatory rights and responsibilities, and regulatory trends.

  • Analyze the impact of regulatory restrictions and requirements on individuals, institutions, and communities.
  • Promote a better understanding by policymakers, community leaders, and private-sector decisionmakers of the processes and resources that support successful community development programs and best practices of community development.

  • Promote research on urban, rural, and tribal economic issues and underserved credit markets.

  • Produce and distribute materials that feature successful community development resources and techniques.

  • Participate in community, Federal Reserve, and interagency projects and forums regarding the development of policies promoting community investment and equal access to credit.

 

financ1.jpg (160887 bytes)

The Boston Federal bank Reserve covers all of New England except for part of Fairfield County, in CT.

 

 

 


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