Federal Reserve Bank of New York
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2012
Libor manipulation allegations involving major banks
Investigations into benchmark-rate manipulation included scrutiny of communications between market participants and public authorities, including historical communications involving the New York Fed. The bank was not identified as the institution that manipulated Libor, but the episode prompted criticism and reforms concerning benchmark oversight and supervisory awareness.
2008
Emergency assistance during the financial crisis
The New York Fed's role in emergency lending to and arrangements involving Bear Stearns and AIG generated extensive public and congressional scrutiny. The debate concerned the scope, terms, transparency, and accountability of extraordinary Federal Reserve assistance to systemically important financial institutions.