Statement Regarding Former Employee's Litigation - FEDERAL RESERVE BANK of NEW YORK

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Statement

Statement Regarding Former Employee's Litigation

October 10, 2013

We cannot speak about individual employees out of privacy considerations nor can we discuss supervised institutions as that would constitute Confidential Supervisory Information. The New York Fed provides multiple venues and layers of recourse for its employees to freely express concerns about the institutions it supervises. Such concerns are treated seriously and investigated appropriately with a high degree of independence. Personnel decisions at the New York Fed are based exclusively on individual job performance and are subject to thorough review. We categorically reject any suggestions to the contrary.

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