TOUR

New York Federal Reserve Bank

The Federal Reserve Bank of New York Building at 33 Liberty Street and occupying the full block between Liberty, William and Nassau Streets and Maiden Lane in the Financial District of Manhattan, New York City is the headquarters of the Federal Reserve Bank of New York. It is where the monetary policy of the United States is executed by trading dollars and United States Treasury securities. It reportedly holds 25% of the world's existing gold reserves, making it the largest known treasury in the world.

The vault rests on Manhattan's bedrock, 80 feet (24 m) below street level and 50 feet (15 m) below sea level. The weight of the vault and the gold inside would exceed the weight limits of almost any other foundation.  By 1927, the vault contained 10% of the world's official gold reserves.  Currently, it is reputedly the largest goldrepository in the world and holds approximately 7,000 tonnes (7,700 short tons) of gold bullion ($415 billion as of October 2011), more than Fort Knox. Nearly 98% of the gold at the Federal Reserve Bank of New York is owned by the central banks of 36 foreign nations.^[ The rest is owned by the United States and international organizations such as the IMF. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it stores at no charge to the owners, but charging a $1.75 fee (in 2008) per bar to move the gold. There are elaborate procedures for the handling of the gold, with three different teams monitoring every transaction. Moving the bars requires special footwear for the staff, to protect their feet in case they drop one of the gold bars weighing 28 pounds (13 kg). The vault is open to tourists.