Federal Reserve Bank of New York supervises and regulates several financial institutions. It offers a range of banking, research and foreign exchange services for member banks in Second District in New York. The bank collects and analyzes reports for various banks and government agencies. Federal Reserve Bank of New York also reviews mergers, acquisitions and expansionary proposals from state member banks, international financial institutions and bank holding companies. It conducts automated clearing house transactions and open market operations. The bank handles international affairs and provides consumer protection services. In addition, Federal Reserve Bank of New York offers payment, security brokerage and check clearing solutions. It maintains a staff of more than 3,000 employees. The bank is a part of the Federal Reserve System.
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