Visitors Visitor’sGuide Guide
This visit will take 30-45 minutes
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MAP INSIDE
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MAIDE
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C A LOOK INSIDE
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GRAND HALL
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FED MINUTES
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A LOOK INSIDE
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LEARNING CENTER
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CLASSROOM
MAP
RESTROOMS
WILLIAM ST
REET
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D LEARNING CENTER
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A GRAND HALL LIBERTY STREET
START
WELCOME!
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GRAND HALL
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FED MINUTES
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A LOOK INSIDE
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LEARNING CENTER
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CLASSROOM
Take a look around. There are over 30 exhibits to discover. Use this guide to explore the museum and learn about the unique role of the Federal Reserve, including the New York Fed. Enjoy your time in this historic building while you learn about the work of the central bank of the United States.
RESTROOMS
Flip to the last page to learn Words to Know!
Bank of the United States, Philadelphia, 1791 (first U.S. central bank)
Newsweek magazine, January 27, 1975, featured in A Look Inside
This visit will take 30-45 minutes
CAMELS display relating to bank supervision from Fed Works exhibit, 1990s
What do you think of when you hear “The Fed”? The Federal Reserve System, often referred to as the Federal Reserve or “the Fed,” is the central bank of the United States. Congress created the Fed to provide the nation with a sound banking system and to promote a healthy economy. Among other things, the Federal Reserve acts as a bank for the U.S. government and a bank for banks.
Gold vault entry, 90-ton steel cylinder fitted within a 140-ton steel and concrete frame
Regional highlights in the Learning Center
DID YOU KNOW?
The Federal Reserve, like some other central banks, is independent from the national government and makes decisions based on data and economic conditions.
Gate topper, Samuel Yellin ironwork detail, 1924
History/Structure
GRAND HALL
Why was the Federal Reserve System created? he nation faced frequent, T severe financial crises and bank runs before the creation of the Federal Reserve. These crises, especially the Panic of 1907, convinced the nation of the need for a central bank. In 1913, the Federal Reserve Act was passed into law, creating the Federal Reserve System.
DID YOU KNOW?
Railroads built in the late 1800, National Geographic Society
The boundaries of the districts were based on patterns of trade prevailing in 1913. Railroad network as of 1890, National Geographic Society.
Trenton Evening Times, October 24, 1907
TAKE A GUESS
How many Federal Reserve Banks are there?
Panic of 1907, Wall Street, New York, 1907
How is the Federal Reserve System structured?
Instead of establishing just one central bank in the nation’s capital, Congress divided the country into 12 districts, each with its own Reserve Bank. Check out the exhibit to learn more about regional voices across the Federal Reserve System. The Federal Reserve System has three key components. Look at the exhibit to learn more about the: 1) Reserve Banks 2) Board of Governors 3) Federal Open Market Committee (FOMC)
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If you guessed 12, you are correct! Each Reserve Bank is responsible for one of the 12 regional districts. Each Bank: 1) Represents regional and economic diversity 2) Supervises banks 3) Circulates cash and coin
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Monetary [ mon-i-ter-ee, muhn- ] adj.
A LOOK INSIDE
Monetary Policy
What exactly is monetary policy?
relating to money or currency
Policy [ pol-uh-see ] noun guidelines for actions
The Federal Reserve’s monetary policy decisions influence the amount of money and credit in the U.S. economy. The Fed is responsible for helping to keep prices stable and to promote a healthy job market. Explore the exhibit to learn how monetary policy decisions are made and implemented.
1969 Trading Room, handwritten ca ptions go here
DID YOU KNOW?
This Reserve Bank, the New York Fed, plays a unique role in monetary policy because it is the only Reserve Bank that implements the decisions of the FOMC.
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Trad
ing R oom, 1981
What does bank supervision mean? A LOOK INSIDE
Supervisors from the Fed — along with other federal agencies — examine banks and help ensure: *Designed for display at member banks, this poster was intended to inform the public about the Federal Reserve System and foster confidence in member banks.
• Banks follow rules • Your money is safe in the bank •Y our money is available when you need it from the bank
*Courtesy of the Federal Reserve Bank of San Francisco
Illustration by Jorrell Segarra
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Supervision
The Federal Reserve System helps establish safe and sound banking practices that ensure the flow of credit, which enables businesses and households to borrow money when they need it.
Financial Services
A LOOK INSIDE
Think about how you pay for things... The Federal Reserve helps make sure that the ways you pay for things work safely and efficiently. As a bank for banks, the Federal Reserve distributes currency and coin, processes checks, and offers forms of electronic payments.
Federal Reserve Banks handle billions of dollars in currency each day. In the district served by the New York Fed, currency is processed at the East Rutherford Operations Center in New Jersey. Pictured here is an automated guided vehicle, which is used to help transport currency.
Take a look at the cash box! Find the words “Federal Reserve Note.” The Federal Reserve Board is authorized to issue currency called Federal Reserve Notes to the Reserve Banks. Each Reserve Bank then circulates these notes to banks in its district.
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Courtesy of the Bureau of Engraving and Printing, the U.S. Department of Treasury
What’s the relationship between gold and the Federal Reserve System? As part of financial services, the New York Fed acts as custodian for the gold of foreign central banks, foreign governments, and official international organizations. The New York Fed gold vault entrance sits 80 feet (24.4 meters) below street level and 50 feet (15.2 meters) below sea level.
DID YOU KNOW?
The gold vault is the world’s largest known depository of monetary gold can hold up to 12,000 tons of gold.
Each gold bar weighs 350-450 troy ounces, which is the equivalent of 24-29 pounds or 11-13 kilograms.
In the rare event that a heavy gold bar is dropped, these stronger-than-steel, lighter-than-aluminum shoe covers ensure the workers’ toes are protected.
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What Is an Economy?
LEARNING CENTER
An economy is a system of making, selling, and using items of value. The circular flow model in this exhibit represents how money, goods, and services move in an economy.
Take a look! Where do you see yourself in this exhibit?
Illustration by Thomas Bayne
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The New York Fed represents the Second District of the Federal Reserve System.
TELL US ABO UT Y OUR COM MUN ITY, so we
can le arn ou!
from y
Observe the map of our district.
LEARNING CENTER
DID YOU KNOW?
Tell us about your community
Greetings from the Second District
Make sure to visit
What types of businesses do you see in the illustrations? What types of businesses are in your community?
Sikorsky S-76 helicopter advertisement, 1970
Illustration by Daniel Baxter
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Story of Our Building
What do you think of when you look at this building?
GRAND HALL
During your visit, be sure to look around the building— especially up. The architecture of the New York Fed, along with other Reserve Banks, was designed to inspire confidence in the recently formed Federal Reserve System. Building architects Edward York and Philip Sawyer closely studied palaces from the Italian Renaissance of the 14th, 15th, and 16th centuries. You will notice fortress-like features such as vaulted ceilings, rusticated limestone, and ornamental and functional ironwork.
Samuel Yellin ironwork detail
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nce Entra
light
, 1923 fixture
Grand
Hall, 19 59
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Words to Know
Bank Run When a large number of customers withdraw their deposited money because they are afraid the bank may not be able to pay back their deposits or may go out of business. Board of Governors A federal government agency that is the centralized component of the Federal Reserve System. The Board guides the policy actions of the Federal Reserve System. Central Bank An institution that oversees and regulates the banking system and the amount of money in the economy of a nation or group of nations. Circular Flow An economic model that highlights the exchange of resources, goods and services, and money. Checks A written order directing a bank to pay the amount specified from funds on deposit
Credit The ability to obtain goods, money, or services in return for a promise to pay at a later date. Currency Physical form of money (usually paper), such as dollars or banknotes. Economy A system to make, distribute, and use resources, goods, and services. Federal Open Market Committee (FOMC) The Federal Open Market Committee (FOMC) is the monetary policymaking body of the Federal Reserve System. It meets eight times per year in Washington, D.C. Federal Reserve Act Signed into law on December 23, 1913, the Federal Reserve Act created two parts of today’s Federal Reserve System: the Board of Governors and a system of regional Federal Reserve Banks.
Financial Crises Events characterized by instability in the financial system where financial institutions face enormous pressure and, in some cases, failure. Goods Items made to satisfy people’s wants and needs. Reserve Banks The 12 Reserve Banks are the decentralized component of the Federal Reserve System and act as the operating arm of the System. They were set up across the country to ensure that one region would not dominate and that regional voices would be represented at the policymaking table. Services Actions that satisfy people’s wants and needs.
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33 Liberty Street, New York, New York 10045
Federal Reserve Bank of New York
HOW WAS YOUR VISIT?
Use this postcard to tell others about your time at the Federal Reserve Bank of New York!
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