Code of Conduct & President's Disclosure
Our Review Process
After our president completes his annual disclosure, it undergoes a multistep review process:
- The Ethics Office of our Reserve Bank reviews the annual disclosure.
- The chairman of our Board of Directors reviews it.
- The ethics officer for the Board of Governors of the Federal Reserve System reviews it (on behalf of the Board's Chairman).
This process determines whether any potential conflicts of interest exist and whether securities transactions occurred during certain blackout periods before meetings of the Federal Open Market Committee.