HENRY GONZALEZ TEXAS, CHARAAN STEPHEN L NEAL NORTH CAROLINA KWEISI MFUME MARYLAND LARRY LAROCCO, IDAHO BILL ORTON, UTAN JIM BACCHUS. FLORIDA HERBERT C KLEIN NEW JERSEY CAROLYN 3 MALONEY, NEW YORK PETER DEUTSCH, FLORIDA LUIS V GUTIERREZ ILLINOIS BOBBY L RUSH, ILLINOIS LUCILLE ROYBAL ALLARD, CALIFORNIA THOMAS M BARRETT, WISCONSIN ELIZABETH FURSE OREGON NYDIA M VELAZQUEZ, NEW YORK ALBERT WYNN, MARYLAND CLEO FIELDS, LOUISIANA MELVIN WATT, NORTH CAROLINA CALVIN M. DOOLEY, CALIFORNIA U.S. HOUSE OF REPRESENTATIVES ONE HUNDRED THIRD CONGRESS August 3, 1993 JAMES A LEACH, IOWA BILL MCCOLLUM, FLORIDA MARGE ROUKEMA NEW JERSEY DOUG BEREUTER NEBRASKA THOMAS RIDGE PENNSYLVANIA TOBY ROTH. WISCONSIN ALFRED A MCCANDLESS CALIFORNIA JIM NUSSLE. HOWA BERNARD SANDERS, VERMONT (202) 225-4247 Mr. William J. McDonough President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 Dear President McDonough: Last year, the Committee requested and you provided information regarding equal employment opportunity at the Federal Reserve Bank of New York. As part of our continuing oversight under Rule X of the House of Representatives of the operation and activities of the agencies and departments subject to the Committee's legislative jurisdiction, the Committee on Banking, Finance and Urban Affairs requests updated answers to the following questions; York: 1. With respect to the internal structure of the Federal Reserve Bank of New a. Provide current staffing statistics for the bank showing the number and percentage of employees for each pay grade, by race, sex, and disability, as of December 31, 1992. Include a separate breakdown for race and sex of the ten highest paid employees, the top ten percent highest paid employees and the ten percent lowest paid employees. b. Provide a description of the responsibilities and qualifications for each job category represented at the bank. For each pay grade, please provide staffing statistics by job category. C. If the personnel or structure in the office which administers your equal employment opportunity programs has changed since your July 1992 response, please describe the current structure and personnel composition of this office. d. Describe and attach copies of all current policies and procedures regarding equal employment opportunity. What goals does the bank have for 1994? c. Please provide an evaluation of the process by which the bank sets its Page 2, President McDonough f. Please analyze the impact of your equal opportunity employment policies and goals in relation to the bank's actual employee statistics. Describe in what ways these goals and policies may be adjusted to encourage greater minority and women hiring and advancement. a. Describe in detail any formal or informal policies on cash awards, merit awards, bonuses, geographical differentials, travel reimbursements, membership dues in private clubs and associations and any other compensation or benefits programs. List the criteria that are used for eligibility for each program. b. Provide separately for each category of compensation a list by pay grade, any cash awards, merit awards or any other bonuses paid in 1992. Include in this list a breakdown for minority and women employees. c. Please provide information on the compensation and benefit expenses for the bank for FY 1992. What are the anticipated compensation and benefit expenditures for FY 1993? 3. With respect to complaints based on any applicable equal employment opportunity or pertinent civil rights laws, and your complaint resolution process: a. b. Describe in detail your complaint resolution process. How many complaints, claims, notices, allegations or charges, informal or formal, were filed for calendar year 1992? C. For each category listed in b. above, please give a breakdown of the grounds alleged for discrimination by category, whether race, religion, sex, national origin, or age, and the status or resolution of the complaint. Thank you for your attention to and consideration of this matter. I would appreciate a response by September 10, 1993. If you have any questions please do not hesitate to contact Michele McMahon of my staff at (202) 225-4247. Sincerely, Hay Suge Henry B. Gonzalez HBG:mm I am responding to your letter of August 3, 1993, requesting updated information on equal employment opportunity at the Federal Reserve Bank of New York. In response to the specific questions outlined in your letter, we have prepared appendices providing our detailed answers. Appendix 1 addresses the internal structure of the Federal Reserve Bank of New York; Appendix 2 provides information regarding our compensation and benefit programs; and Appendix 3 provides information on the number of EEO complaints filed and a description of our complaint resolution process. I am strongly committed to the Bank's equal employment opportunity policy and to the Affirmative Action Program. The Bank has made significant progress toward improving the number and percentage of minorities and females at all levels and in all areas. Although I am pleased with the progress we have made, I am certain that more can and must be accomplished in the area of affirmative action and view this as an ongoing management challenge. We have, over the years, made impressive progress in hiring minorities and females, and I am especially encouraged by this year's results. In 1993, we hired a record 100 undergraduates, 41 percent of whom were minorities and 54 percent women. We also employed 42 master's level candidates. of this number, 45 percent were minorities and 55 percent females. These results expand the affirmative action foundation which we have continued to reinforce each year and should position us well for the future gains by minorities and women in our senior staff and officer ranks. BSERVE BANK OF NEW YORK The Honorable Henry B. Gonzalez I have been impressed particularly with the Master's level summer internship program conducted by the Bank, which is designed to attract talented minorities and women for the summer and for full-time permanent positions after they receive their degrees. I had an opportunity to interact with the interns this summer and found them to be a bright, promising group. A listing of this and other Affirmative Action initiatives and accomplishments appears in the EEO and Affirmative Action booklet included in Appendix 1. If you or a member of your staff should require any further clarification, please feel free to contact me or Donald Vangel, vice president, Corporate Planning Group, on (212) 720-1552. Sincerely, Wakuuh William J. McDonough Enclosures |