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Press Release

Cleveland Fed Creates Central Banking Think Tank

The Federal Reserve Bank of Cleveland announces the creation of a central banking research program, The Central Bank Institute, to identify best practices in central banking.

The Central Bank Institute will provide opportunities for the sharing of knowledge and ideas among some of the world's leading academicians and central bankers. The Institute will explore questions of central bank design, including their participation in payment services and financial institution supervision. The Institute will also examine how central banks worldwide are evolving as they adjust to a host of contemporary challenges-innovations in payment technologies, new types of financial institutions, and increasingly global markets.

"What makes The Central Bank Institute unique," according to Federal Reserve Bank of Cleveland President Jerry Jordan, "is that it will devote special attention to the connections between the primary responsibilities of central banking: formulating and implementing monetary policy; supervising and regulating financial institutions; and the clearing and settlement of payments."

In addition to hosting conferences, The Central Bank Institute will sponsor an exchange of economists between the Cleveland Reserve Bank and foreign central banks. Through its activities, the Institute will promote the development of a body of research that will enable central banks to make informed choices about their own goals and business practices.

Federal Reserve Bank of Cleveland

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. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell,, 513.455.4479