The Federal Reserve Bank of New York has created a new payments policy and credit risk management group. The bank has appointed Sandra Krieger to lead it, and she will also become a member of the bankâ€™s management committee.
The Fed formed the group in recognition of the cross-bank co-ordination involved in the analysis of payment and settlement systems matters and the assessment and management of the bankâ€™s risk exposure.
Her responsibilities include analysing key payments system issues confronting the bank and Federal Reserve system and developing payments policy positions for the bank. She is also responsible for overseeing payment system risk, discount window and condition monitoring policies and promoting consistency, co-ordination and communication across reserve banks with respect to the provision of short-term liquidity.