| Federal Reserve Bank of Boston | |
| Image 1: | Seal of the United States Federal Reserve System.svg |
| Image Title 1: | Federal Reserve Seal |
| Image 2: | Federal Reserve from South Boston.jpg |
| Image Title 2: | Headquarters |
| Headquarters: | Federal Reserve Bank Building 600 Atlantic Avenue Boston, Massachusetts, U.S. |
| Executive Title: | President |
| Executive: | Susan Collins |
| Website: | bostonfed.org |
| Predecessor: | Eric S. Rosengren |
| Successor: | Susan Collins |
| Footnotes: | The Federal Reserve Bank of Boston is one of twelve regional banks that make up the Federal Reserve System |
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County.[1] [2] [3] The code of the Bank is A1, meaning that dollar bills from this Bank will have the letter A on them. The Boston Fed describes its mission as promoting "growth and financial stability in New England and the nation".[4] The Boston Fed also includes the New England Public Policy Center.[5]
Current Federal Reserve Bank of Boston president is Susan Collins, who is the first Black woman and the first woman of color to lead any of the 12 regional Federal bank branches.[6] It has been headquartered since 1977 in the distinctive 614feet tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue, Boston. Designed by architecture firm Hugh Stubbins & Associates, the tower portion of the building is suspended between two towers on either side. From 1922 to 1977, the bank's headquarters were located at 250 Franklin Street, currently occupied by the Langham Hotel Boston. This building was designated a Boston Landmark by the Boston Landmarks Commission in 1978.
The following people serve on the board of directors .[7] Terms expire on December 31 of their final year on the board.[7]
| Ronald O'Hanley | Chairman and Chief Executive Officer State Street Corporation Boston, Massachusetts | 2025 |
|---|---|---|
| Jeanne Hulit | President and Chief Executive Officer Maine Community Bank Biddeford, Maine | 2023 |
| Sushil Tuli | Chairman and Chief Executive Officer Leader Bank, N.A. Arlington, Massachusetts | 2024 |
| Meghan Hughes, PhD | President Community College of Rhode Island Warwick, Rhode Island | 2025 | |
|---|---|---|---|
| Kimberly Sherman Stamler | President Related Beal Boston, Massachusetts | 2023 | |
| Lauren A. Smith, MD | Chief Health Equity and Strategy Officer CDC Foundation Boston, Massachusetts | 2024 |
| Corey E. Thomas(Chair) | Chairman and Chief Executive Officer Rapid7, LLC Boston, Massachusetts | 2024 | |
|---|---|---|---|
| Lizanne Kindler | Executive Chair and Chief Executive Officer Talbots Hingham, Massachusetts | 2025 | |
| Roger W. Crandall(Vice Chair) | Chairman, President, and Chief Executive Officer MassMutual Financial Group Springfield, Massachusetts | 2023 |
The position was installed under the title of "Governor" until the Banking Act of 1935 abolished the dual role of governor and agent and created a single leadership role – president.
| CEO | Life span | Term start | Term end | Tenure length | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Governors | |||||||||||||||||
| 1 | Alfred L. Aiken | 1870–1946 | November 25, 1914 | December 20, 1917 | |||||||||||||
| 2 | Charles A. Morss | 1857–1927 | December 20, 1917 | December 31, 1922 | |||||||||||||
| 3 | William P. G. Harding | 1864–1930 | January 16, 1923 | April 6, 1930 | |||||||||||||
| 4 | Roy A. Young | 1882–1960 | September 1, 1930 | — | — | ||||||||||||
| Presidents | |||||||||||||||||
| 4 | Roy A. Young | 1882–1960 | — | March 31, 1942 | |||||||||||||
| 5 | William W. Paddock | 1879–1957 | April 1, 1942 | May 1, 1944 | |||||||||||||
| 6 | Ralph Flanders | 1880–1970 | May 1, 1944 | February 28, 1946 | |||||||||||||
| 7 | Laurence F. Whittemore | 1894–1960 | March 3, 1946 | October 4, 1948 | |||||||||||||
| 8 | Joseph A. Erickson | 1896–1983 | December 15, 1948 | February 28, 1961 | |||||||||||||
| 9 | George H. Ellis | 1920–2005 | March 1, 1961 | June 30, 1968 | |||||||||||||
| 10 | Frank E. Morris† | 1923-2000 | August 15, 1968 | December 31, 1988 | |||||||||||||
| 11 | Richard F. Syron | 1943– | January 1, 1989 | March 31, 1994 | |||||||||||||
| 12 | Cathy Minehan | 1947– | July 13, 1994 | July 20, 2007 | |||||||||||||
| 13 | Eric S. Rosengren | 1962– | July 20, 2007 | September 30, 2021 | |||||||||||||
| – | Kenneth Montgomery | September 30, 2021 | July 1, 2022 | ||||||||||||||
| 14 | Susan Collins | July 1, 2022 | present | ||||||||||||||
| † | Stepped down due to reaching retirement age | |
| Died in office |