Federal Reserve Bank of Boston

Federal Reserve Bank of Boston

Federal Reserve Seal
Headquarters
Headquarters	Federal Reserve Bank Building 600 Atlantic Avenue Boston , Massachusetts, U.S.
Established	May 18, 1914 (1914-05-18)
President	Susan Collins
Central bank of	First District Massachusetts Maine New Hampshire Rhode Island Vermont Parts of: 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.

Map of the First District

Class A

Class A

Name	Title	Term Expires
Bruce Van Saun	Chairman and Chief Executive Officer Citizens Financial Group Stamford, Connecticut	2022
Jeanne	President and Chief Executive Officer Maine Community Bank Biddeford, Maine	2023
[yes]	Chairman and Chief Executive Officer Leader Bank, N.A. Arlington, Massachusetts	2024

Class B

Class B

Name	Title	Term Expires
Lizanne Kindler	Chief Executive Officer Talbots Hingham, Massachusetts	2022
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
Christina Paxson (Chair)	President Brown University Providence, Rhode Island	2022
Roger W. Crandall	Chairman, President, and Chief Executive Officer MassMutual Financial Group Springfield, Massachusetts	2023
Corey E. Thomas (Deputy Chair)	Chairman and Chief Executive Officer Rapid7, LLC Boston, Massachusetts	2024

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, 179 days

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

Image gallery

• 
  On an overcast day.
• 
  The Federal Reserve Bank's position to the rest of the Financial District of Boston.
• 
  The parking lot security methods installed for the Federal Reserve Bank of Boston.
• 
  The Federal Reserve Bank of Boston building viewed from the back.
• 
  The Federal Reserve Bank of Boston viewed from the side at street level. The entire building is covered with a matte aluminum paneling.
• 
  The Federal Reserve Bank of Boston building front entrance.
• 
  The Federal Reserve Building of Boston viewed from the side.
• 
  The Federal Reserve Bank of Boston tower near the South Boston financial district.
• 
  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