Since the 2008 crisis, the Federal Reserve, and in particular that of New York, the most powerful of the 12 regional central banks, has been deemed too close to Wall Street. It would show leniency and favoritism towards the big banks, which also happen to be its shareholders. According to the first figures published by the Federal Reserve of New York for the last 10 years, 72% of its capital was held, at the end of 2018, by two institutions, Citigroup (42.8% of the shares) and JP Morgan (29.5% ). It had so far refused to disclose the precise holdings of its 70 shareholder banks, holding 205 million securities with a total value of $ 10.26 billion. Invoking the right to information within the framework of the “Freedom of information act” the magazine “Institutional Investor”, revealed this very strong concentration of the shareholders of the most powerful of the American regional Fed.
Systemic banks
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