View source for Federal Reserve Bank of Boston

{{Short description|Member Bank of Federal Reserve}}
{{Infobox central bank
| name = Federal Reserve Bank of Boston
| image_1 = Seal of the United States Federal Reserve System.svg
| image_title_1 = Federal Reserve Seal
| image_2 = Federal Reserve from South Boston.jpg
| image_title_2 = Headquarters
| headquarters = [[Federal Reserve Bank Building (Boston)|Federal Reserve Bank Building]]<br />600 [[Atlantic Avenue (Boston)|Atlantic Avenue]] <br />[[Boston]], [[Massachusetts]], U.S.
| coordinates = <!-- use {{coord}} -->
| established = {{Start date and age|p=y|1914|5|18}}
| ownership = <!-- Government owned or private co. -->
| executive_title = President
| executive = [[Susan M. Collins (economist)|Susan Collins]]
| bank_of = {{Collapsible list |title=First District |{{flag| Massachusetts}} |{{flag| Maine}} |{{flag|New Hampshire}} |{{flag|Rhode Island}} |{{flag|Vermont}}| Parts of:<br />{{flag| Connecticut}}}}
| currency = 
| currency_iso = <!-- see [[ISO 4217]] -->
| reserves = 
| reserve_requirements = <!-- % of reserves required to be held against deposits, or "None" if there are no such requirements -->
| borrowing_rate = <!-- the bank rate, also known as the discount rate in American English -->
| interest_rate_target = <!-- the target interest rate, or target interest rate range -->
| deposit_rate = <!-- % of interest paid on reserves, if any, or "None" if no interest is ever paid on reserves -->
| excess_reserves = <!-- "yes" or "no" reg. interest on excess reserves - or "not applicable - no reserve requirement" if there is no reserve requirement -->
| website = [https://www.bostonfed.org/ bostonfed.org]
| predecessor = [[Eric S. Rosengren]]
| successor = Susan Collins
| footnotes = The Federal Reserve Bank of Boston is one of twelve [[Federal Reserve Bank|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 [[Federal Reserve Bank|First District]] of the [[Federal Reserve]], which covers [[New England]]: [[Maine]], [[Massachusetts]], [[New Hampshire]], [[Rhode Island]], [[Vermont]] and all of [[Connecticut]] except [[Fairfield County, Connecticut|Fairfield County]].<ref>[http://www.newyorkfed.org/banking/ma_bankingmarkets.html Second Federal Reserve District Banking Markets]</ref><ref name="FRB">{{cite web|url=http://www.federalreserve.gov/aboutthefed/bios/banks/pres01.htm|title=Eric S. Rosengren:President Federal Reserve Bank of Boston|date=January 28, 2009|work=Federal Reserve Bank Presidents|publisher=Board of Governors of the Federal Reserve System|access-date=2009-02-24|archive-date=2013-09-02|archive-url=https://web.archive.org/web/20130902044030/http://www.federalreserve.gov/aboutthefed/bios/banks/pres01.htm|url-status=dead}}</ref><ref name="FAQ">{{cite web|url=http://www.richmondfed.org/faqs/frb/|title=FAQS:Federal Reserve Banks|publisher=Federal Reserve Bank of Richmond|access-date=2009-02-24}}</ref> 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".<ref name= "release">{{cite news |url= https://www.federalreserve.gov/newsevents/press/other/20070614a.htm |title=Press Release |work=[[Federal Reserve System]] |date=2007-06-14 |access-date=2017-02-02}}</ref> The Boston Fed also includes the New England Public Policy Center.<ref>{{Cite web |url=http://www.bos.frb.org/economic/neppc/about/index.htm |title=New England Public Policy Center |access-date=2010-11-02 |archive-date=2010-12-25 |archive-url=https://web.archive.org/web/20101225223139/http://www.bos.frb.org/economic/neppc/about/index.htm |url-status=dead }}</ref>

Current Federal Reserve Bank of Boston president is [[Susan M. Collins (economist)|Susan Collins]], who is the first Black woman and the first woman of color to lead any of the 12 regional Federal bank branches.<ref>{{cite news |last=Edelman |first=Larry |url=https://www.bostonglobe.com/2022/02/09/business/susan-collins-becomes-first-black-woman-woman-color-lead-boston-federal-reserve-bank |title=Susan Collins becomes first Black woman, woman of color to lead Boston Federal Reserve Bank |work=[[The Boston Globe]] |date=2022-02-09 |accessdate=2022-02-09 }}</ref>
 
It has been headquartered since 1977 in the distinctive {{convert|614|ft|m|adj=on}} tall, 32-story [[Federal Reserve Bank Building (Boston)|Federal Reserve Bank Building]] at 600 [[Atlantic Avenue (Boston)|Atlantic Avenue]], [[Boston]]. Designed by [[architecture]] firm [[KlingStubbins|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 (Boston)|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|2022|07|lc=yes}}.<ref name="board">{{cite web|url=https://www.federalreserve.gov/aboutthefed/federal-reserve-system-boston.htm|title=Directors of Federal Reserve Bank of Boston |date= August 5, 2017 |publisher=[[The Federal Reserve]]}}</ref> Terms expire on December 31 of their final year on the board.<ref name="board"/>

[[Image:Boston Fed map.png|thumb|right|Map of the First District]]

===Class A===
{| class="wikitable sortable"
|+ Class A
! Name
! Title
! Term Expires
|-
![[Ronald O'Hanley]]
|Chairman and Chief Executive Officer<br>[[State Street Corporation]]<br>[[Boston, Massachusetts]]
|2025
|-
![[Jeanne Hulit]]
|President and Chief Executive Officer<br>[[Maine Community Bank]]<br>[[Biddeford, Maine]]
|2023
|-
![[Sushil Tuli]]
|Chairman and Chief Executive Officer<br>[[Leader Bank, N.A.]]<br>[[Arlington, Massachusetts]]
|2024
|-
|}

===Class B===

{| class="wikitable sortable"
|+ Class B
! Name
! Title
! Term Expires
|-
![[Meghan Hughes]], PhD
|President<br>[[Community College of Rhode Island]]<br>[[Warwick, Rhode Island]]
|2025
|-
![[Kimberly Sherman Stamler]]
|President<br>[[Related Beal]]<br>[[Boston, Massachusetts]]
|2023
|-
![[Lauren A. Smith]], MD
|Chief Health Equity and Strategy Officer<br>[[CDC Foundation]]<br>[[Boston, Massachusetts]]
|2024
|}

===Class C===

{| class="wikitable sortable"\\]

|+ Class C
! Name
! Title
! Term Expires
|-
![[Corey E. Thomas]]
(Chair)
|Chairman and Chief Executive Officer<br>[[Rapid7]], LLC<br>[[Boston, Massachusetts]]
|2024
|-
![[Lizanne Kindler]]
|Executive Chair and Chief Executive Officer<br>[[Talbots]]<br>[[Hingham, Massachusetts]]
|2025
|-
![[Roger W. Crandall]]
(Vice Chair)
|Chairman, President, and Chief Executive Officer<br>[[MassMutual Financial Group]]<br>[[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.

{| class="wikitable" style="text-align:center"
|-
! #
! CEO
! Life span
! Term start
! Term end
! Tenure length
|-
|align="center" Colspan="18" style="background: #000000"|'''<span style="color:white">Governors</span>'''
|-
| 1
| Alfred L. Aiken
| 1870–1946
| November 25, 1914
| December 20, 1917
| {{age in years and days|1914|11|25|1917|12|20}}
|-
| 2
| Charles A. Morss
| 1857–1927
| December 20, 1917
| December 31, 1922
| {{age in years and days|1917|12|20|1922|12|31}}
|-
| 3
|bgcolor="#ddffdd"| [[William P. G. Harding]]*
| 1864–1930
| January 16, 1923
| April 6, 1930
| {{age in years and days|1923|1|16|1930|4|6}}
|-
| 4
| [[Roy A. Young]]
| 1882–1960
| September 1, 1930
|align="center"| —
|align="center"| —
|-
|align="center" Colspan="18" style="background: #4169E1"|'''<span style="color:white">Presidents</span>'''
|-
| 4
| Roy A. Young
| 1882–1960
| align="center"| —
| March 31, 1942
| {{age in years and days|1930|9|1|1942|3|31}}
|-
| 5
| William W. Paddock
| 1879–1957
| April 1, 1942
| May 1, 1944
|{{age in years and days|1942|4|1|1944|5|1}}
|-
| 6
| [[Ralph Flanders]]
| 1880–1970
| May 1, 1944
| February 28, 1946
|{{age in years and days|1944|5|1|1946|2|28}}
|-
| 7
| [[Laurence F. Whittemore]]
| 1894–1960
| March 3, 1946
| October 4, 1948
|{{age in years and days|1946|3|3|1948|10|4}}
|-
| 8
| [[Joseph A. Erickson]]
| 1896–1983
| December 15, 1948
| February 28, 1961
|{{age in years and days|1948|12|15|1961|2|28}}
|-
| 9
| George H. Ellis
| 1920–2005
| March 1, 1961
| June 30, 1968
|{{age in years and days|1961|3|1|1968|6|30}}
|-
| 10
| bgcolor=#FFE6BD| Frank E. Morris†
| 1923-2000
| August 15, 1968
| December 31, 1988
|{{age in years and days|1968|8|15|1988|12|31}}
|-
| 11
| [[Richard F. Syron]]
| 1943–
| January 1, 1989
| March 31, 1994
|{{age in years and days|1989|1|1|1994|3|31}}
|-
| 12
| [[Cathy Minehan]]
| 1947–
| July 13, 1994
| July 20, 2007
|{{age in years and days|1994|7|13|2007|7|20}}
|-
| 13
| [[Eric S. Rosengren]]
| 1962–
| July 20, 2007
| September 30, 2021
|{{age in years and days|2007|7|20|2021|9|30}}
|-
| –
| [[Kenneth Montgomery (banker)|Kenneth Montgomery]]<br>{{small|Acting}}
| 
| September 30, 2021
| July 1, 2022
|{{age in years and days|2021|9|30|2022|7|1}}
|-
|-
| 14
| [[Susan M. Collins (economist)|Susan Collins]]
| 
| July 1, 2022
| present
|{{age in years and days|2022|7|1}}
|}

{| class="wikitable"
|style="background-color:#FFE6BD"|†
|Stepped down due to reaching retirement age
|-
|style="background-color:#ddffdd"|*
|Died in office
|}

==Image gallery==
<gallery>
Image:Federal Reserve Bank of Boston.jpg|On an overcast day.
Image:Federalreservebankboston-7.jpg|The Federal Reserve Bank's position to the rest of the Financial District of Boston.
Image:Federalreservebankboston-6.jpg|The parking lot security methods installed for the Federal Reserve Bank of Boston.
Image:Federalreservebankboston-5.jpg|The Federal Reserve Bank of Boston building viewed from the back.
Image: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.
Image:Federalreservebankboston-3.jpg|The Federal Reserve Bank of Boston building front entrance.
Image:Federalreservebankboston-2.jpg|The Federal Reserve Building of Boston viewed from the side.
Image:Federalreservebankboston-1.jpg|The Federal Reserve Bank of Boston tower near the South Boston financial district.
Image:FederalReserveBankBuildingBoston.jpg|The Federal Reserve Bank Building in Downtown Boston.
</gallery>

==See also==
{{Portal|Banks}}
* [[Federal Reserve System]]
* [[Federal Reserve Districts]]
* [[Federal Reserve Branches]]
* [[Federal Reserve Act]]
* [[Federal Reserve Bank Building (Boston)]]
* [[Structure of the Federal Reserve System]]

==References==
{{Reflist}}

==External links==
*[https://www.bostonfed.org/ Boston Fed home page]
*[https://wayback.archive-it.org/all/20051228183050/http://www.bos.frb.org%3A80/about/history/index.htm History of the Boston Fed]
*[http://www.manta.com/coms2/dnbcompany_d3f375 Boston Branch]
*[https://fraser.stlouisfed.org/title/465 Annual Reports] of the Federal Reserve Bank of Boston from 1916 to 1967

{{Federal Reserve System}}
{{Federal Reserve Banks}}
{{BostonFedBank}}
{{Authority control}}

{{DEFAULTSORT:Federal Reserve Bank Of Boston}}
[[Category:Economy of the Northeastern United States]]
[[Category:Federal Reserve Banks|Boston]]
[[Category:Landmarks in Financial District, Boston]]
[[Category:New England]]