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Board of Governors of the Federal Reserve System

Appendix D: Expenses and Employment at the Federal Reserve Banks

Table D.1. Operating expenses of the Federal Reserve Banks, by district, 2010 and 2011
Thousands of dollars, except as noted
District 2010 (budgeted) 2010 (actual) 2011 (budgeted) Percent change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Boston 160,841 158,904 173,988 -1.2 9.5
New York 791,329 783,114 808,668 -1.0 3.3
Philadelphia 148,493 153,021 163,181 3.0 6.6
Cleveland 168,410 166,288 182,753 -1.3 9.9
Richmond 294,937 295,050 324,123 0.0 9.9
Atlanta 354,324 334,976 326,549 -5.5 -2.5
Chicago 275,191 265,017 291,191 -3.7 9.9
St. Louis 222,488 214,584 236,880 -3.6 10.4
Minneapolis 150,245 146,113 159,059 -2.7 8.9
Kansas City 173,306 173,185 186,130 -0.1 7.5
Dallas 185,729 184,322 205,545 -0.8 11.5
San Francisco 296,001 308,437 293,164 4.2 -5.0
Total 3,221,295 3,183,011 3,351,230 -1.2 5.3

Note: Excludes capital outlays as well as assessments for the Board of Governors operating expenses, currency costs, the Consumer Financial Protection Bureau, and the Office of Financial Research. 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.

Table D.2. Employment at the Federal Reserve Banks, by district, and at FRIT and OEB, 2010 and 2011
Average number of personnel
District 2010 (budgeted) 2010 (actual) 2011 (budgeted) Amount change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Boston 876 866 929 -10 63
New York 3,066 3,079 3,205 13 126
Philadelphia 868 862 873 -6 12
Cleveland 1,312 1,294 1,302 -18 8
Richmond 1,509 1,495 1,538 -14 43
Atlanta 1,717 1,672 1,648 -45 -25
Chicago 1,297 1,296 1,358 -1 62
St. Louis 962 943 979 -19 36
Minneapolis 1,018 1,025 1,036 7 11
Kansas City 1,189 1,225 1,262 36 36
Dallas 1,204 1,156 1,290 -48 134
San Francisco 1,610 1,555 1,546 -55 -10
Total, all Districts 16,628 16,467 16,965 -161 498
Federal Reserve Information Technology (FRIT) 904 946 965 42 19
Office of Employee Benefits (OEB) 47 46 49 -1 3
Total 17,578 17,459 17,979 -119 520

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.

Table D.3. Operating expenses of the Federal Reserve Banks, FRIT, and OEB, by operational area, 2010 and 2011
Thousands of dollars, except as noted
Operational area 2010 (budgeted) 2010 (actual) 2011 (budgeted) Percent change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Monetary and economic policy 505,085 497,719 538,422 -1.5 8.2
Services to the U.S. Treasury and other government agencies 444,370 433,417 471,132 -2.5 8.7
Services to financial institutions and the public 980,753 982,559 989,600 0.2 0.7
Supervision and regulation 784,209 801,910 934,216 2.3 16.5
Fee-based services to financial institutions 506,877 467,404 417,860 -7.8 -10.6
Total 3,221,294 3,183,011 3,351,230 -1.2 5.3

Note: Excludes capital outlays as well as assessments for the Board of Governors operating expenses, currency costs, the Consumer Financial Protection Bureau, and the Office of Financial Research. 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.

Table D.4. Employment at the Federal Reserve Banks, and at FRIT and OEB, by operational area, 2010 and 2011
Average number of personnel
Operational area 2010 (budgeted) 2010 (actual) 2011 (budgeted) Amount change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Monetary and economic policy 1,125 1,115 1,188 -10 73
Services to U.S. Treasury and other government agencies 1,091 1,052 1,173 -39 121
Services to financial institutions and the public 2,634 2,610 2,601 -24 -9
Supervision and regulation 2,996 3,052 3,397 56 345
Fee-based services to financial institutions 386 346 210 -40 -135
Local support and overhead 6,446 6,379 6,432 -67 53
National consolidated support 2,059 2,032 2,077 -27 45
Centralized service providers 841 873 900 32 27
Total 17,578 17,459 17,979 -119 520

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.

Table D.5. Expenses of the Federal Reserve Banks for salaries of officers and employees, by district, 2010 and 2011
Thousands of dollars, except as noted
District 2010 (budgeted) 2010 (actual) 2011 (budgeted) Percent change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Boston 80,956 81,089 86,922 0.2 7.2
New York 361,761 357,995 379,288 -1.0 5.9
Philadelphia 68,108 67,951 70,226 -0.2 3.3
Cleveland 86,624 85,608 89,355 -1.2 4.4
Richmond 118,995 116,928 123,910 -1.7 6.0
Atlanta 135,339 134,290 135,822 -0.8 1.1
Chicago 115,311 114,039 123,300 -1.1 8.1
St. Louis 76,875 75,124 79,658 -2.3 6.0
Minneapolis 72,260 71,934 75,044 -0.5 4.3
Kansas City 88,613 88,253 92,575 -0.4 4.9
Dallas 85,086 81,861 87,723 -3.8 7.2
San Francisco 147,823 145,389 150,153 -1.6 3.3
Total, all Districts 1,437,751 1,420,460 1,493,974 -1.2 5.2
Federal Reserve Information Technology 89,025 92,972 96,042 4.4 3.3
Office of Employee Benefits 5,902 6,009 6,482 1.8 7.9
Total 1,532,677 1,519,441 1,596,498 -0.9 5.1

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

Table D.6. Capital outlays of the Federal Reserve Banks, by district, and of FRIT and OEB, 2010 and 2011
Thousands of dollars, except as noted
District 2010 (budgeted) 2010 (actual) 2011 (budgeted) Percent change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Boston 21,191 24,490 22,558 15.6 -7.9
New York 112,627 51,207 128,183 -54.5 150.3
Philadelphia 16,055 10,968 12,731 -31.7 16.1
Cleveland 12,014 11,133 13,781 -7.3 23.8
Richmond 27,806 18,765 18,311 -32.5 -2.4
Atlanta 27,974 28,112 27,754 0.5 -1.3
Chicago 36,081 25,963 31,446 -28.0 21.1
St. Louis 20,082 13,988 19,418 -30.3 38.8
Minneapolis 13,547 11,057 16,110 -18.4 45.7
Kansas City 8,636 8,201 1,233 -5.0 -85.0
Dallas 25,324 10,644 18,676 -58.0 75.5
San Francisco 44,771 26,274 34,402 -41.3 30.9
Total, all Districts 366,106 240,801 344,603 -34.2 43.1
Federal Reserve Information Technology (FRIT) 64,093 52,088 70,687 -18.7 35.7
Office of Employee Benefits (OEB) 4,228 3,285 2,300 -22.3 -30.0
Total 434,428 296,174 417,590 -31.8 41.0

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

Table D.7. Capital outlays of the Federal Reserve Banks, FRIT, and OEB, by asset classification, 2010 and 2011
Thousands of dollars, except as noted
Asset classification 2010 (budgeted) 2010 (actual) 2011 (budgeted) Percent change
2010 actual compared with 2010 budgeted 2011 budgeted compared with 2010 actual
Equipment 124,046 95,445 96,409 -23.1 1.0
Furniture, furnishings, and fixtures 31,876 15,050 28,818 -52.8 91.5
Land and other real estate 2,808 2,831 210 0.8 -92.6
Building 124,399 68,319 117,296 -45.1 71.7
Building machinery and equipment 44,960 19,824 47,680 -55.9 140.5
Leasehold improvements 2,228 2,745 298 23.2 -89.1
Software 103,242 91,346 125,962 -11.5 37.9
Art 868 616 917 -29.1 49.0
Total 434,428 296,174 417,590 -31.8 41.0

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.

Last update: July 13, 2011