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Our seminars, training programs, and conferences—and our account relationships with the international central banking community—position the Federal Reserve Bank of New York as a leader in policy, technology, and education for central bankers. On behalf of the Federal Reserve System, we provide correspondent and custodial banking services for central banks, monetary authorities, and certain international organizations to facilitate their official financial operations. |
| Features |
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 Central
Banking SeminarThe next seminar will be offered October 19-22, 2010. The Workshop on Financial Markets will be offered October 18, 2010. Central bank governors will receive invitations to nominate participants in July. |
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| Research Highlights |
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The Federal Reserve's Foreign Exchange Swap LinesThe U.S. dollar swap line program—a system of reciprical currency arrangements with foreign central banks—was introduced by the Federal Reserve in late 2007 to address global disruptions in dollar funding markets. The swap lines increased the ability of foreign central banks to provide U.S. dollar funding to financial institutions in their jurisdictions at a time when interbank lending was effectively frozen. by Michael Fleming and Nicholas Klagge, Current Issues in Economics and Finance (16) 4, April 2010 |
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| Is the International Role of the Dollar Changing? Recently the U.S. dollar’s preeminence as an international currency has been questioned. The emergence of the euro, changes in the dollar’s value, and the financial market crisis have, in the view of many commentators, posed a significant challenge to the currency’s long-standing position in world markets. However, a study of the dollar across critical areas of international trade and finance suggests that the dollar has retained its standing in key roles. by Linda Goldberg, Current Issues in Economics and Finance (16) 1, January 2010 |
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| Micro, Macro, and Strategic Forces in International Trade Invoicing The use of different currencies in the invoicing of international trade transactions plays a major role in the international transmission of economic fluctuations. by Linda S. Goldberg and Cédric Tille, Staff Reports (No. 405), November 2009 |
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