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THE FEDERAL RESERVE BANK

OF PHILADELPHIA

NO GONZALEZ Toulou
RANK ANNUN.BO. ILUNOS
STEVEN L NEAL NORTH CAROLINA
CARROLL MUSSARD, J KENTICKY

OWN WALCE NEW YORK
MARY ROSE BAKAR OMO
BRUCE VENTO, MINNESOTA
DOUG MARNARD, A GEORGIA
CHALESE SCHUMER NEW YORK
SAANEY FRANK, MASSACHUSETTS
SEN ERORECH. ALABAMA
THOMAS CARPER DELAWARE
ESTEBAN EDWARD TORRES, CALIFORNIA
GERALD O LICZKA WISCONSIN
PAUL LAVORSKIL PENNSYLVANIA
ELIZABETH PATTERSON SOUTH CAROUNA
JOSEPH. KENNEDY IL MASSACHUSETTS
POYO K PAKE NEW YORK
CWESIMPUNE MARYLAND
PETER MOAGLANO, NEBRASKA
CWD L NEAL MASSACHUSETTS
CHARLES LUKEN. OHIO
MANNE WATERS, CALIFORNIA
WARY LAROCCO, IDAMO
ORL ORTON, UTAN
JIM BACCHUS, FLORIDA
JAMES MORAN VIRGINIA
JOHN COX, JA, WINOIS
TED WEISS NEW YORK
JM SUATTERY, KANSAS
GARY LACKERMAN, NEW YORK

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Mr. Edward G. Boehne
President
Federal Reserve Bank of Philadelphia
Ten Independence Mall
Philadelphia, PA 19106
Dear President Boehne:

answers

a.

As part of our continuing oversight under Rule x of the House of Representatives over 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

to the following questions regarding equal employment opportunities and minority and women contracting by July, 31, 1992.

1. With respect to the internal structure of the Federal Reserve Bank of Philadelphia:

Provide current staffing statistics for the bank showing the number and percentage of employees for each pay grade, by race, sex, disability, and age, as of December 31, 1991. Include a separate breakdown for race and sex of the ten highest paid employees, the top ten percent highest paid employees and the lowest ten percent paid employees.

b. Describe the current personnel and structure of the office which administers your equal employment opportunity programs. What is the current reporting structure to your office?

Describe and attach copies of all current policies and procedures regarding equal employment opportunity. What goals does the bank have for 1992-1993?

2. With respect to complaints based on any applicable equal employment opportunity or pertinent civil rights laws, and your complaint resolution process:

Describe your complaint resolution process.

C.

a.

or charges, informal or formal, were filed for each calendar year, 1990 and 1991?

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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, disability, or age, and the status or resolution of the complaint.

3. with respect to contracts between the bank and minority or women contractors:

a.

Does the bank have a specific minority and women contracting outreach program? If

So,

attach all relevant documents, including policy statements and program guidelines. Include any information pertaining to the executive level positions which administer or oversee such programs.

What is the current reporting structure to your office? b. Describe specifically for

1991 the number and monetary value of contracts with (i) minorities, or minority-owned entities, and (ii) women, or women-owned entities, which provide (a) financial services, (b) investment banking, (c) underwriting, (d) accounting, (e) legal services, (f) asset management (9) asset disposition or (h) other (please describe). Indicate the date the contract began and its term.

a

C. Does the bank have minority and women certification process? Does the bank accept certifications made by other Federal Reserve Banks or government, State or Federal, agencies?

If you have any questions, please do not hesitate to call Barbara Shycoff, Committee counsel, at (202) 225-4247.

Thank you for your cooperation.

incerely,

Henry B. González
Chairman

72-29

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Enclosed are our responses to the questions in your June 19 letter regarding equal employment opportunities and contracting programs for minorities and women. I would also like to share with you some additional information on our efforts to enhance contracting with minority and female firms, our progress in increasing the representation of minorities and women, participation in training and development programs by women and minorities to advance their careers, internal and community based programs that promote affirmative action, and environmental factors which will impact our affirmative action goals for the next few years.

Contracting with Women and Minorities

We have an active outreach program to provide business opportunities to small businesses and, in particular, businesses owned by minorities and women. We advise all prospective vendors of our outreach program and make specific efforts to identify firms owned by minorities and women who can meet our business needs. In 1991, we had 297 orders for goods or services with 23 minority-owned firms and nine female-owned firms for a total volume of $1.25 million.

Progress in Afirmative Action

In 1991, the Bank continued to focus on the development of minorities and women for advancement to the higher level managerial/professional positions. Three women were promoted to officer positions and one minority officer was promoted. The Bank exceeded its goal for women in higher level

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managerial/professional positions, increasing their representation from 49 in 1989 to 70 in 1991. For the same period of time, the number of minorities in these higher level positions increased from 25 to 30, very close to the goal the Bank had set. In June of 1992, two more women were promoted to officer positions and a minority officer and female officer were promoted.

To progress further, we are working on identifying new sources of minority recruitment and positioning more minorities for upward mobility through training and development programs.

Training & Development

The Bank provides executive level training for upper level management personnel at various universities and management development organizations. In 1991, 10 people participated in such programs, of which two were a minority man and woman, and three others were women.

Our tuition reimbursement program continues at a high level with 211 employees participating in the program in 1991, of which 41.2% were women and 40.8% were minorities.

In 1991, internal training programs increased, both in the number of programs offered and participation, with 297 professional/managerial employees taking the courses. Female representation in these programs was 43.4% and 23.6% of the participants were minorities.

Internal and Community-Based Programs

We support the following programs which promote and enhance

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