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January 31, 2012

Fed Bank Presidents’ Holdings Range From Ranchland to Equities

Federal Reserve regional bank presidents provided unprecedented disclosure of their wealth, revealing assets ranging from a Missouri farm and Texas ranchland to stocks and Treasury Inflation Protected Securities.

The officials, who oversee Fed operations ranging from bank supervision to emergency lending, disclosed the documents today in response to requests from Bloomberg News under the Freedom of Information Act. The regional banks said they weren’t subject to the terms of the act, even as they responded to the request.

The 12 regional banks and their presidents aren’t held to the same level of public scrutiny as the Washington-based board and its governors. While Chairman Ben S. Bernanke and Fed governors disclose information about their finances and are subject to the FOIA, the regional banks don’t routinely make personal financial information public.

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