Policy Committee Support Office; Bob Price, Current Head of the Support Office, Retires

Terrence (Terry) Roth has been appointed senior vice president of the Federal Reserve Banks' Financial Services Policy Committee (FSPC) Support Office, effective September 1, 2012. Roth succeeds Robert Price, senior vice president of the Financial Services Policy Committee Support Office, who retired on August 31, 2012. The FSPC Support Office works out of the Federal Reserve Bank of Cleveland. (Download high-res photos of Roth and Price.)

Roth brings 39 years of experience to his new role, including three years in the Financial Services Policy Committee Support Office, nine years in the Federal Reserve System's Retail Payments Office, and the balance of his career in the Federal Reserve Bank of Cleveland's Marketing, Quality, Check, and Data Systems Support departments. Roth was named assistant vice president in 1989 and vice president in 1997. He was instrumental in designing the Federal Reserve Bank of Cleveland's payments products and pricing strategies and in developing the Federal Reserve System's Check 21 product portfolio.

Price led the Financial Services Policy Committee Support Office since 2009. Prior to that, he was a senior vice president in the Federal Reserve System's Retail Payments Office, which he joined in 2001. Price started his career in the Federal Reserve Bank of Cleveland's Audit Department in 1974 and moved to the Check area in 1979. He was named assistant vice president in 1983, vice president in 1986, and senior vice president in 1999. Among Price's many accomplishments are serving as the senior project leader for the Federal Reserve's check modernization and check restructuring initiatives as well as leading the System efforts to implement Check 21.

The Federal Reserve System

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, DC, comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates US monetary policy, supervises certain banks and other financial institutions, and provides payment services to financial institutions and to the US government. Payment services include check clearing, electronic payments, and the distribution of currency and coin.

Fourth Federal Reserve District

The Federal Reserve Bank of Cleveland, with branches in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. For more information on the Federal Reserve Bank of Cleveland, see www.clevelandfed.org or follow us on Facebook and Twitter (@ClevelandFed).