Federal Reserve Bank of Boston

Last updated
Federal Reserve Bank of Boston
Seal of the United States Federal Reserve System.svg
Federal Reserve Seal
Federal Reserve from South Boston.jpg
Headquarters
Headquarters Federal Reserve Bank Building
600 Atlantic Avenue
Boston, Massachusetts, U.S.
EstablishedMay 18, 1914(111 years ago) (1914-05-18)
President Susan Collins
Central bank of
First District
Preceded by Eric S. Rosengren
Succeeded bySusan Collins
Website bostonfed.org
The Federal Reserve Bank of Boston is one of twelve regional banks that make up the Federal Reserve System

The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County. [1] [2] [3] The code of the Bank is A1, meaning that dollar bills from this Bank will have the letter A on them. The Boston Fed describes its mission as promoting "growth and financial stability in New England and the nation". [4] The Boston Fed also includes the New England Public Policy Center. [5]

Contents

Current Federal Reserve Bank of Boston president is Susan Collins, who is the first Black woman and the first woman of color to lead any of the 12 regional Federal bank branches. [6]

It has been headquartered since 1977 in the distinctive 614-foot (187 m) tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue, Boston. Designed by architecture firm Hugh Stubbins & Associates, the tower portion of the building is suspended between two towers on either side. From 1922 to 1977, the bank's headquarters were located at 250 Franklin Street, currently occupied by the Langham Hotel Boston. This building was designated a Boston Landmark by the Boston Landmarks Commission in 1978.

Board of directors

The following people serve on the board of directors as of July 2025. [7] Terms expire on December 31 of their final year on the board. [7]

Map of the First District Boston Fed map.png
Map of the First District

Class A

Class A
NameTitleTerm Expires
Ronald O'Hanley Chairman and Chief Executive Officer
State Street Corporation
Boston, Massachusetts 		2025
Josephine Moran President and Chief Executive Officer
Ledyard Financial Group, Inc.
Hanover, New Hampshire 		2026
Sushil Tuli Chairman and Chief Executive Officer
Leader Bancorp, Inc.
Arlington, Massachusetts 		2027

Class B

Class B
NameTitleTerm Expires
Sunil Eappan, MDPresident and Chief Executive Officer
University of Vermont Health Network
Burlington, Vermont 		2025
Kimberly Sherman Stamler President
Related Beal
Boston, Massachusetts 		2026
Betty Francisco Chief Executive Officer
Boston Impact Initiative
Roxbury, Massachusetts 		2027

Class C

Class C
NameTitleTerm Expires
Lizanne Kindler

(Vice Chair)

Executive Chair and Chief Executive Officer
KnitWell Group
Hingham, Massachusetts 		2025
Roger W. Crandall

(Chair)

Chairman, President, and Chief Executive Officer
MassMutual Financial Group
Springfield, Massachusetts 		2026
Corey E. Thomas Chairman and Chief Executive Officer
Rapid7, LLC
Boston, Massachusetts 		2027

Governors and presidents

The position was installed under the title of "Governor" until the Banking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president.

#CEOLife spanTerm startTerm endTenure length
Governors
1Alfred L. Aiken1870–1946November 25, 1914December 20, 19173 years, 25 days
2Charles A. Morss1857–1927December 20, 1917December 31, 19225 years, 11 days
3 William P. G. Harding*1864–1930January 16, 1923April 6, 19307 years, 80 days
4 Roy A. Young 1882–1960September 1, 1930——
Presidents
4Roy A. Young1882–1960—March 31, 194211 years, 211 days
5William W. Paddock1879–1957April 1, 1942May 1, 19442 years, 30 days
6 Ralph Flanders 1880–1970May 1, 1944February 28, 19461 year, 303 days
7 Laurence F. Whittemore 1894–1960March 3, 1946October 4, 19482 years, 215 days
8 Joseph A. Erickson 1896–1983December 15, 1948February 28, 196112 years, 75 days
9George H. Ellis1920–2005March 1, 1961June 30, 19687 years, 121 days
10Frank E. Morris†1923-2000August 15, 1968December 31, 198820 years, 138 days
11 Richard F. Syron 1943–January 1, 1989March 31, 19945 years, 89 days
12 Cathy Minehan 1947–July 13, 1994July 20, 200713 years, 7 days
13 Eric S. Rosengren 1962–July 20, 2007September 30, 202114 years, 72 days
– Kenneth Montgomery
Acting		September 30, 2021July 1, 2022274 days
14 Susan Collins July 1, 2022present3 years, 16 days
†Stepped down due to reaching retirement age
*Died in office

See also

References

  1. ↑ Second Federal Reserve District Banking Markets
  2. ↑ "Eric S. Rosengren:President Federal Reserve Bank of Boston". Federal Reserve Bank Presidents. Board of Governors of the Federal Reserve System. January 28, 2009. Archived from the original on 2013-09-02. Retrieved 2009-02-24.
  3. ↑ "FAQS:Federal Reserve Banks". Federal Reserve Bank of Richmond. Retrieved 2009-02-24.
  4. ↑ "Press Release". Federal Reserve System . 2007-06-14. Retrieved 2017-02-02.
  5. ↑ "New England Public Policy Center". Archived from the original on 2010-12-25. Retrieved 2010-11-02.
  6. ↑ Edelman, Larry (2022-02-09). "Susan Collins becomes first Black woman, woman of color to lead Boston Federal Reserve Bank". The Boston Globe . Retrieved 2022-02-09.
  7. 1 2 "Directors of Federal Reserve Bank of Boston". The Federal Reserve. August 5, 2017.
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