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Board of Governors of the Federal Reserve System
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Annual Performance Plan 2014


On June 26, 2012, the Board of Governors (Board) approved the Strategic Framework 2012-15, which identified and framed critical organizational challenges facing the Board. The Annual Performance Plan 2014 sets forth the planned projects, initiatives, and activities that will contribute to the strategic framework's long-term objectives. The performance plan provides a more detailed understanding of the planning, budgeting, operations, and performance of the Board.

Both the Strategic Framework and the Annual Performance Plan are issued in the spirit of the Government Performance and Results Act (GPRA) of 1993, which requires that federal agencies, in consultation with the Congress and outside stakeholders, prepare a strategic plan covering a multiyear period and submit an annual performance plan and annual performance report. The GPRA Modernization Act of 2010 refines those requirements to include quarterly performance reporting. Although the Board is not covered by GPRA, the Board voluntarily complies with the spirit of the act and, like other federal agencies, prepares a strategic plan as well as annual plans and reports.

As required by the Federal Reserve Act, the Board annually submits to the Congress a report describing in detail operations of the Federal Reserve System (FRS) for the previous year. Since 1985, the FRS has also provided the Congress with a supplement, the Annual Report: Budget Review (ARBR), which provided a detailed explanation of the plans and resources discussed in the approved budgets of the Board and the 12 Federal Reserve Banks. The Board separately published its Annual Report and ARBR in past years. Commencing with the 2013 reporting year, the Board is including the ARBR in its Annual Report.

Each of these reports is available on the Board's website at

Last update: June 13, 2014

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