Federal Reserve Bank of Boston Appoints Two Senior Officers
The Federal Reserve Bank of Boston has announced the appointment of two senior vice presidents: Prabal Chakrabarti, Senior Vice President and Community Affairs Officer in the Regional and Community Outreach area, and Christopher Haley, Senior Vice President for Large Bank Supervision in the Supervision, Regulation, and Credit area.
Prabal Chakrabarti has been a key contributor to the work of the Regional and Community Outreach department since joining the Bank in 2006. Chakrabarti will provide leadership for the Bank's Regional , Community Outreach function. He has been instrumental in designing and implementing the Working Cities Challenge, generating significant collaboration in Massachusetts cities looking for resurgence. Chakrabarti holds graduate degrees from MIT and Oxford University, where he was a Marshall Scholar, and a bachelor's degree from the University of Illinois, where he was a Truman Scholar. He currently serves on the board of directors of the Children's Investment Fund.
Christopher Haley serves as the officer responsible for the Bank's Large Bank Supervision program. In this position, he provides leadership over the teams responsible for supervising First District banking organizations with over $50 billion in assets and for analyzing emerging large-bank risk and policy issues. In addition, Haley serves as a member of a number of Federal Reserve System committees focused on the supervision of systemically important firms. Haley joined the Bank in 1990, and holds an undergraduate degree from Northeastern University and a graduate degree from Boston University.
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.