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Appendix D: Expenses and Employment at the Federal Reserve Banks

Table D.1 Operating Expenses of the Federal Reserve Banks, by District, 2009 and 2010
Thousands of dollars, except as noted
District 2009 (budgeted) 2009 (actual) 2010 (budgeted) Percent change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Boston 153,479 154,088 160,841 0.4 4.4
New York 646,993 750,240 791,329 16.0 5.5
Philadelphia 152,724 153,070 148,493 0.2 -3.0
Cleveland 171,007 176,012 168,410 2.9 -4.3
Richmond 283,005 276,860 294,937 -2.2 6.5
Atlanta 387,155 353,214 354,324 -8.8 0.3
Chicago 274,078 264,640 275,191 -3.4 4.0
St. Louis 222,717 210,690 222,488 -5.4 5.6
Minneapolis 154,652 150,757 150,245 -2.5 -0.3
Kansas City 169,232 172,726 173,306 2.1 0.3
Dallas 182,399 186,564 185,729 2.3 -0.4
San Francisco 288,730 293,675 296,001 1.7 .8
Total 3,086,172 3,142,535 3,221,295 1.8 2.5

Note: Excludes capital outlays. Includes expenses budgeted by Federal Reserve Information Technology and the System's Office of Employee Benefits. Reflects all redistributions for support and allocations for overhead. Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.2. Employment at the Federal Reserve Banks, by District, and at FRIT and OEB, 2009 and 2010
Average number of personnel
District 2009 (budgeted) 2009 (actual) 2010 (budgeted) Amount change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Boston 899 884 876 -15 -8
New York 2,877 2,978 3,066 101 88
Philadelphia 1,009 932 868 -77 -64
Cleveland 1,367 1,359 1,312 -8 -47
Richmond 1,638 1,584 1,509 -54 -75
Atlanta 1,776 1,755 1,717 -21 -38
Chicago 1,339 1,314 1,297 -25 -17
St. Louis 964 943 962 -21 19
Minneapolis 1,082 1,070 1,018 -12 -52
Kansas City 1,213 1,233 1,189 20 -44
Dallas 1,235 1,207 1,204 -28 -3
San Francisco 1,686 1,650 1,610 -36 -40
Total, all Districts 17,086 16,910 16,628 -176 -282
Federal Reserve Information Technology (FRIT) 889 925 904 36 -21
Office of Employee Benefits (OEB) 45 45 47 0 2
Total 18,020 17,880 17,578 -140 -302

Note: The term average number of personnel (ANP) describes levels and changes in employment. ANP is the average number of employees in terms of full-time positions for the period. For instance, a full-time employee who starts work on July 1 counts as 0.5 ANP for that calendar year; two half-time employees who start on January 1 count as 1 ANP. Components may not sum to totals and may not yield variances shown because of rounding.

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Table D.3. Operating Expenses of the Federal Reserve Banks, FRIT, and OEB, by Operational Area, 2009 and 2010
Thousands of dollars, except as noted
Operational Area 2009 (budgeted) 2009 (actual) 2010 (budgeted) Percent change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Monetary and economic policy 433,013 501,297 505,085 15.8 0.8
Services to the U.S. Treasury and other government agencies 442,978 429,658 444,370 -3.0 3.4
Services to financial institutions and the public 837,378 880,714 980,753 5.2 11.4
Supervision and regulation 714,224 725,253 784,209 1.5 8.1
Fee-based services to financial institutions 658,578 605,613 506,877 -8.0 -16.3
Total 3,086,172 3,142,535 3,221,294 1.8 2.5

Note: Excludes capital outlays. Includes expenses budgeted by Federal Reserve Information Technology (FRIT) and the Office of Employee Benefits (OEB). Reflects all redistributions for support and allocations for overhead. Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.4. Employment at the Federal Reserve Banks, and of FRIT and OEB, by Operational Area, 2009 and 2010
Average number of personnel
Operational area 2009 (budgeted) 2009 (actual) 2010 (budgeted) Amount change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Monetary and economic policy 1,067 1,081 1,125 15 44
Services to U.S. Treasury and other government agencies 1,140 1,112 1,091 -28 -21
Services to financial institutions and the public 2,517 2,578 2,634 61 56
Supervision and regulation 2,785 2,863 2,996 78 133
Fee-based services to financial institutions 1,033 837 386 -197 -451
Local support and overhead 6,507 6,461 6,446 -46 -15
National consolidated support 2,140 2,088 2,059 -52 -29
Centralized service providers 831 861 841 30 -20
Total 18,020 17,880 17,578 -140 -302

Note: Components may not sum to totals and may not yield variances shown because of rounding. FRIT, Federal Reserve Information Technology; OEB, Office of Employee Benefits.

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Table D.5. Expenses of the Federal Reserve Banks for Salaries of Officers and Employees, by District, 2009 and 2010
Thousands of dollars, except as noted
District 2009 (budgeted) 2009 (actual) 2010 (budgeted) Percent change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Boston 78,925 78,620 80,956 -0.4 3.0
New York 325,011 334,674 361,761 3.0 8.1
Philadelphia 71,544 68,294 68,108 -4.5 -0.3
Cleveland 85,802 85,701 86,624 -0.1 1.1
Richmond 119,514 117,220 118,995 -1.9 1.5
Atlanta 130,786 131,216 135,339 0.3 3.1
Chicago 111,039 109,587 115,311 -1.3 5.2
St. Louis 73,757 72,508 76,875 -1.7 6.0
Minneapolis 73,570 72,314 72,260 -1.7 -0.1
Kansas City 87,848 87,277 88,613 -0.6 1.5
Dallas 83,535 82,423 85,086 -1.3 3.2
San Francisco 146,594 145,259 147,823 -0.9 1.8
Total, all Districts 1,387,925 1,385,094 1,437,751 -0.2 3.8
Federal Reserve Information Technology 83,826 87,353 89,025 4.2 1.9
Office of Employee Benefits 5,558 5,545 5,902 -0.2 6.4
Total 1,477,309 1,477,992 1,532,677 0.0 3.7

Note: Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.6. Capital Outlays of the Federal Reserve Banks, by District, and of FRIT and OEB, 2009 and 2010
Thousands of dollars, except as noted
District 2009 (budgeted) 2009 (actual) 2010 (budgeted) Percent change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Boston 27,241 18,114 21,191 -33.5 17.0
New York 154,713 131,037 112,627 -15.3 -14.0
Philadelphia 21,648 20,947 16,055 -3.2 -23.4
Cleveland 11,669 11,870 12,014 1.7 1.2
Richmond 32,224 29,163 27,806 -9.5 -4.7
Atlanta 36,735 18,708 27,974 -49.1 49.5
Chicago 23,259 17,377 36,081 -25.3 107.6
St. Louis 21,507 16,621 20,082 -22.7 20.8
Minneapolis 10,444 11,552 13,547 10.6 17.3
Kansas City 7,152 4,433 8,636 -38.0 94.8
Dallas 29,729 17,238 25,324 -42.0 46.9
San Francisco 62,239 38,292 44,771 -38.5 16.9
Total, all Districts 438,560 335,351 366,106 -23.5 9.2
Federal Reserve Information Technology (FRIT) 79,758 31,637 64,093 -60.3 102.6
Office of Employee Benefits (OEB) 1,050 2,094 4,228 99.4 101.9
Total 519,368 369,082 434,428 -28.9 17.7

Note: Components may not sum to totals and may not yield percentages shown because of rounding.

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Table D.7. Capital Outlays of the Federal Reserve Banks, FRIT and OEB, by Asset Classification, 2009 and 2010
Thousands of dollars, except as noted
Asset classification 2009 (budgeted) 2009 (actual) 2010 (budgeted) Percent change
2009 actual compared with 2009 budgeted 2010 budgeted compared with 2009 actual
Equipment 150,235 93,159 124,046 -38.0 33.2
Furniture, furnishings, and fixtures 24,789 17,421 31,876 -29.7 83.0
Land and other real estate 4,415 5,244 2,808 18.8 -46.5
Building 147,069 131,005 124,399 -10.9 -5.0
Building machinery and equipment 45,002 21,788 44,960 -51.6 106.4
Leasehold improvements 3,065 3,674 2,228 19.9 -39.4
Software 143,988 96,274 103,242 -33.1 7.2
Art 805 517 868 -35.7 67.7
Total 519,368 369,082 434,428 -28.9 17.7

Note: Components may not sum to totals and may not yield percentages shown because of rounding. FRIT, Federal Reserve Information Technology; OEB, Office of Employee Benefits.

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