We have a lot of bank supervisors who typically get degrees in public policy or business, and come and work at the Federal Reserve and become bank examiners. We have a lot of people in the Markets Group, which I ran prior to becoming President of the Bank. We monitor the markets. We talk to market participants to understand what’s going on. 4 / 15  BIS central bankers' speeches  We execute monetary policy on behalf of the Federal Reserve System. We have people that are in Operational Risk, who assess risk. We have people who manage custody accounts for foreign and central banks. We have about $ trillion of foreign central bank assets in custody at the New York Fed. We have the largest holdings of gold in the world in the vault of the New York Fed, so someone has to protect that. We have a number of people in the Protection and Law Enforcement Services that make sure that the gold is safe regardless of what one of the Die Hard movies implied, that it could be robbed pretty easily. That’s not the case. When I became the President of the Bank, I actually rented out the Die Hard movie because I wanted to see if it was plausible – the way they stole the gold from the New York Fed, and it turned out that they sort of glossed over that.
Anita Angelovska-Bezoska: Macedonia – current macroeconomic developments, medium term outlook and challenges ahead Speech by Ms Anita Angelovska-Bezoska, Vice-Governor of the National Bank of the Republic of Macedonia, at the Ministerial Dialogue on the Preaccession Economic Programs on EU Candidate Countries, European Commission, Brussels, 9 July 2013. *  *  *  Dear Ministers, Dear representatives of the European Commission, European Central Bank and Eurostat, At the beginning, let me express our gratitude to the European Central Bank, European Commission and Eurostat for their contribution in assessing our Preaccession Economic Program for the period 2013–2015. Within the PEP we already presented the proactive role of the National Bank of the Republic of Macedonia in dealing with the global crisis consequences, by undertaking a mix of conventional and unconventional measures, aimed at maintenance of the price stability, financial stability, as well as stimulating economic activity. I will use this opportunity to point out several issues regarding the current macroeconomic developments, medium term outlook and challenges ahead. The latest available data on Macedonian economy for the first quarter of 2013 indicated a gradual revival of the economy with real annual GDP growth of 2.9%, slightly higher than our expectations, being mainly driven by the investment and net export.