The Federal Reserve Bank of New York

The Federal Reserve Bank of New York is the most important of the twelve Federal Reserve Banks of the United States. It is located in New York City, with a secondary office in Buffalo, New York. It is responsible for the Second District of the Federal Reserve System, which encompasses New York state, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the Virgin Islands. The Federal Reserve Bank of New York maintains an underground vault in Manhattan. Reputedly it is the largest gold repository in the world, though this cannot be confirmed as Swiss Banks do not report their gold stocks. In The US The Federal Reserve Bank of New York's stocks are larger even than Fort Knox, it is 80 feet beneath the street and holds approx 5,000 tons of gold bullion; $90 billion worth at 2007 prices. The gold is owned by many foreign nations, central banks and official international organizations. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it "protects" at no charge as a gesture of good will to other nations. Free tours of the vault are available to the public.