The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is one of the twelve Federal Reserve Banks of the United States. It is responsible for the First District of the Federal Reserve System, which encompasses New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County.Second Federal Reserve District Banking Markets The district is headquartered in Boston. 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.

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". The Boston Fed also includes the New England Public Policy Center. It has been headquartered since 1977 in the distinctive tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue. 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 . Terms expire on December 31 of their final year on the board.

Class A + Class A Name Title Term ExpiresRonald O'HanleyChairman and Chief Executive OfficerState Street CorporationBoston, Massachusetts2025Josephine MoranPresident and Chief Executive OfficerLedyard Financial Group, Inc.Hanover, New Hampshire2026Sushil TuliChairman and Chief Executive OfficerLeader BankArlington, Massachusetts2027

Class B + Class B Name Title Term ExpiresBetty FranciscoChief Executive OfficerBoston Impact InitiativeBoston, Massachusetts2027Kimberly Sherman StamlerPresidentRelated BealBoston, Massachusetts2026 Class C

+ Class C Name Title Term ExpiresRoger W. Crandall (Chair)Chairman, President, and Chief Executive OfficerMassMutual Financial GroupSpringfield, Massachusetts2026Lizanne Kindler (Vice Chair)Executive Chair and Chief Executive OfficerKnitWell GroupHingham, Massachusetts2025Corey E. ThomasChairman and Chief Executive OfficerRapid7, LLCBoston, Massachusetts2027

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.

# CEO Life span Term start Term end Tenure lengthGovernors 1 Alfred L. Aiken 1870–1946 November 25, 1914 December 20, 1917 2 Charles A. Morss 1857–1927 December 20, 1917 December 31, 1922 3 William P. G. Harding* 1864–1930 January 16, 1923 April 6, 1930 4 Roy A. Young 1882–1960 September 1, 1930 — —Presidents 4 Roy A. Young 1882–1960 — March 31, 1942 5 William W. Paddock 1879–1957 April 1, 1942 May 1, 1944 6 Ralph Flanders 1880–1970 May 1, 1944 February 28, 1946 7 Laurence F. Whittemore 1894–1960 March 3, 1946 October 4, 1948 8 Joseph A. Erickson 1896–1983 December 15, 1948 February 28, 1961 9 George H. Ellis 1920–2005 March 1, 1961 June 30, 1968 10 Frank E. Morris† 1923-2000 August 15, 1968 December 31, 1988 11 Richard F. Syron 1943– January 1, 1989 March 31, 1994 12 Cathy Minehan 1947– July 13, 1994 July 20, 2007 13 Eric S. Rosengren 1962– July 20, 2007 September 30, 2021 – Kenneth Montgomery September 30, 2021 July 1, 2022 14 Susan Collins July 1, 2022 present

†Stepped down due to reaching retirement age*Died in office

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See also

Federal Reserve System Federal Reserve Districts Federal Reserve Branches Federal Reserve Act Federal Reserve Bank Building (Boston) Structure of the Federal Reserve System

References

External links Boston Fed home page History of the Boston Fed Boston Branch Annual Reports of the Federal Reserve Bank of Boston from 1916 to 1967