Contact
Jack Gutt
(212) 720-6142
Jack.Gutt@ny.frb.org
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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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Press Release
New York Fed Statement on GAO Review of Assistance to AIG
October 31, 2011
The GAO report captures the difficult challenges and decisions that the New York Fed faced with regard to AIG during the worst financial crisis in generations. Although the New York Fed was not responsible for supervising AIG and had only limited visibility into the depths of its problems, the New York Fed, as directed by the Board of Governors of the Federal Reserve and in close cooperation with the U.S. Department of the Treasury, put together an effective lending program that minimized disruption to the economy from AIG while safeguarding the taxpayer interest.
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