BOSTON - Jim Nolan has been promoted to Executive Vice President, effective August 1. Nolan has been serving as Senior Vice President and Director of Supervision, Regulation, and Credit (SRC) since 2007.

"Under Jim's leadership, SRC has expanded its contributions to financial stability efforts; to risk management policy; to System supervision and regulation; and to the integration of SRC analysis in support of monetary policy," said Federal Reserve Bank of Boston President and CEO Eric Rosengren and First Vice President , COO Ken Montgomery.

Nolan joined the Bank in 1985 as an Assistant Bank Examiner. He was promoted to Assistant Vice President in 1995 and Vice President in 2001. Nolan is a member of the Bank's Executive Committee and its Macrofinancial Steering Committee. He chairs the System's Subcommittee on Regulations, Bank Supervision, and Legislation and is a member of the System's Supervision Committee as well as its Large Institution Supervision Coordinating Committee. Nolan holds a bachelor's degree from Harvard and an MBA from Babson College.

The Federal Reserve Bank of Boston is one of 12 regional banks that, together with the Federal Reserve Board of Governors in Washington, DC, make up the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates and implements U.S. monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government.

The Boston Federal Reserve Bank serves the First Federal Reserve District, which includes all of New England except Fairfield County, Connecticut. Within the District, the Bank monitors local economic conditions to aid in the formulation of monetary policy; engages in outreach to promote economic growth, community revitalization, and economic and financial education; supervises banks and bank holding companies; and provides financial services to facilitate banking operations.