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Ongoing programs

Although strategies and plans may differ from
area to area, they should address the following:
• Identification and development of minorities

and females within the Bank for advancement;
• Active recruiting initiatives; and
• Other initiatives such as internships or

training efforts to improve the area's

success in recruiting and retention.
The Personnel Function and the Equal
Employment Opportunity Officer monitor, on a
quarterly basis, progress towards affirmative action
goals set by the individual groups and functions and
the Bank as a whole. A senior Personnel officer
reports to the Board of Directors annually on equal
opportunity developments in the Bank.

The Equal Employment Opportunity Officer
periodically reports on the Bank's affirmative action
efforts to the Committee on Management
Development and Compensation and, at year-end,
reports to the President and the First Vice President
on significant EE0 matters, including affirmative
action achievements and the status of internal and
external discrimination complaints. The Equal
Employment Opportunity Officer also conducts
periodic reviews of selected personnel practices.

The senior officers in charge of groups and
functions report on attainment of their affirmative
action goals during the annual review of their area's
performance by the Resource Planning Committee.

The Bank conducts a variety of programs and
actities to meet the career development needs of all
employees including supervisory, technical, and
professional staff members. In so doing, the Bank
contributes to the upward mobility of minorities and
females as they advance in their careers at the Bank
by ensuring that they are appropriately represented
in the following programs and activities.

Affirmative Action: The Next Phase.
The Bank conducts a supervisory
management training program entitled
Affirmative Action: The Next Phase,"
designed to heighten management awareness
of and sensitivity to equal employment
opportunity and affirmative action.
Executive Training and
Development Program (ET&D).
This program is open to employees in salary
grades XIII-XVII who demonstrate the
ability to assume official responsibilities.
Job Posting and Career Counseling.
The Bank's job posting system emphasizes
equal opportunity for all qualified applicants.
Career counseling service is available to assist
employees in reviewing career opportunities
and evaluating eligibility for specific job


In-Bank Training.
The Bank offers approximately 40 courses in
operations, supervision, and communications
to assist employees in developing job-related
skills to prepare them for increased
Management Training Program (MTP).
This program is open to employees in salary
grades VIII-XII who demonstrate the
potential and desire to assume general
management responsibilities.

Recruitment and
community relations

Black Executive Exchange Program
The Bank sponsors, under the auspices of the
National Urban League, minority employees
as guest lecturers at predominantly black
colleges and universities.
LEAD (Leadership Education and
Development) Program in Business Inc.
The Bank participates in this program which
is designed to attract outstanding minority
students to careers in business and
Minority Summer Internship Program.
The Bank hires minority students from
various colleges each summer to broaden
their exposure to the activities of the Bank.
The Bank annually recruits at a wide variety
of colleges including those with significant
minority and female populations.
Urban Bankers Coalition.
Membership in this organization provides the
Bank with exposure to experienced minority
bankers and professionals.
Youth Opportunity Campaign.
This New York Employment Service
program provides jobs for economically
disadvantaged high school and college students.

American Economic Association's
(AEA) Summer Program
for Minority Economists.
The Bank supports this program financially
and provides a Visiting Professor to the
AEA Federal Reserve System Ph.D.
Fellowships for Minority Students.
The Bank participates in this System effort
designed to increase the representation of
blacks and other minorities in the economics
profession at the Ph.D. level.


Bank profile

The Bank's minority and female profile, in the aggregates, favorably corresponds with that of the Bank's local labor market.'

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Internal grievance procedure

An important element of the Affirmative Action
Program is the investigation and resolution of any
employee grievance relating to discrimination because
of race, color, religion, national origin, sex, age, or
handicap. Any employee who believes that he or she
has been discriminated against should discuss the
grievance with his or her supervisor, assistant chief,
chief, or manager; or with a counselor in the
Personnel Department.

An employee who believes that the grievance
cannot be resolved may bring the grievance to the
Equal Employment Opportunity Officer. A finding by
the Equal Employment Opportunity Officer may be
appealed to either the First Vice President or the

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Data as of December 31, 1988. The Bank's relevant labor market includes the
following counties in New York: Bronx, Kings, Manhattan, Queens, Staten
Island, Nassau, Putnam, Rockland, Suffolk, and Westchester, in New
Jersey: Bergen, Essex, Hudson, Passaie, Union, and in Connecticut: Fuirfield.

*1980 Census occupations comparable lo Federal Reserve Bank of New York jubs at Salary Grades X-XVII.

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Minorities as a percentage of selected stull levels December 1978 to December 1988


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Detailed Response to Question 2a


In order to ensure sufficient and varied outlets for

the airing of employee concerns, the Bank has established four means for resolving grievances or complaints. An employee may discuss her/his grievance with any or all of the following:

• the employee's area or local management (supervisor,

assistant chief, chief or officer), • the Equal Employment Opportunity officer at the Head

office or at the Buffalo Branch, or Equal Employment Opportunity specialist,

• the ombudsman at the Head office or the Buffalo

Branch, or one of four deputy ombudspersons, and

• officers and counselors in the personnel department.


The Bank's Equal Employment Opportunity (EEC) officer and the EEO specialist are responsible for investigating and resolving any employee grievance or complaint brought to their attention alleging discrimination based on race, color, religion, national origin, sex, sexual orientation, age or disability. Such grievances are expected to receive prompt and careful

attention, to be investigated fully and impartially, and to be

resolved as quickly as possible.

The EEO officer and the EEO specialist may inspect and

examine all activities and documents they consider pertinent,

hold meetings with whomever they believe can be of assistance,

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