On December 1913, the Federal Reserve Act was enacted, and the following year, the Federal Reserve Bank of New York came into existence. Through the discussions with the Fed, we have  7developed common understandings, such as: the importance of price stability for sustainable economic growth; the importance of a sound financial system as well as liquid and well functioning financial markets.
Today, the primary responsibility of the New York office is to develop a channel for a candid dialogue with respectable people widely in the region it covers, that is, both North and South America, but the crucial part is of course the United States, above all, Federal Reserve officials and banking communities here.