Collaborating with public and private partners to support community economic development.
In 2012 we convened 10 community development events throughout New England, including three conferences targeting the resurgence of mid-sized manufacturing-oriented cities. Mid-sized cities are a major focus of our work, as 4.5 million New Englanders live in the Greater Boston metropolitan area or in one of New England’s mid-sized cities
Conducting rigorous bank supervision to help identify and mitigate risks.
The Boston Fed provided an objective evaluation of financial institutions’ soundness, and their compliance with U.S. banking laws and regulations. Additions to our supervisory portfolio in 2012 included the U.S. operations of one foreign bank, eight New England state chartered banks, and 27 savings and loan holding companies.
Addressing the challenge of talent retention in New England.
In partnership with the Greater Boston Chamber of Commerce, the Bank hosted more than 100 business, government, and academic representatives to make progress on student internships in New England – which allow students to develop essential skills and help New England business retain talent so they can grow and flourish.
Conducting research and analysis that called upon, and strengthened, regional partnerships.
Working with the Commonwealth of Massachusetts Commonwealth Corporation, Bank researchers produced eight regional labor market profiles. Regional forums on the Labor Market Profiles attracted about 1,000 attendees. Separately, we partnered with consumers to gather reliable information on the choices they are making about payments. Almost 2,500 respondents reported on their purchases, payments, deposits and withdrawals using the new Diary of Consumer Payment Choice as part of the research conducted by our Consumer Payments Research Center.
Convening leaders to advance corporate diversity in New England.
The Bank held an inaugural New England Financial Services CEO Roundtable, in which representatives from 13 financial services organizations took part. The goal was to create a discussion among CEOs on the importance of diversity in the senior ranks and on the boards of directors of New England’s financial services companies. Separately the Bank continued to support diverse businesses, increasing our annual spend with minority and women-owned business enterprises.
Providing avenues for Bank employees to donate their time and money to community organizations.
The Bank’s "First Serve" program coordinated 17 employee volunteer events in 2012, with 200 employees taking part. Employees actively supported the Bank’s United Way campaign.