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  STATUS OF EQUAL EMPLOYMENT OPPORTUNITY AT THE FEDERAL RESERVE:
                    DIVERSITY STILL LACKING
  STAFF REPORT OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFIRS
                    HOUSE OF REPRESENTATIVES
                   ONE HUNDRED THIRD CONGRESS
                         FIRST SESSION
                      Table of Contents
                                                       Tab
I.   Letter of Transmittal . . . . . . . . . . . . . .  A
I.   Introduction. . . . . . . . . . . . . . . . . . .  B
III. Major Findings. . . . . . . . . . . . . . . . . .  C
IV.  Recommendations . . . . . . . . . . . . . . . . .  D
V.   Description of Federal Reserve Programs and Policies E
          A. The Board of Governors of the Federal Reserve
               1. Summary. . . . . . . . . . . . . . .  F
               2. Charts on Staffing Statistics. . . .  F1
               3. Graphs on Staffing Statistics. . . .  *
          B. The Federal Reserve Bank of Boston
               1. Summary. . . . . . . . . . . . . . .  G
               2. Charts on Staffing Statistics. . . .  G1
               3. Graphs on Staffing Statistics. . . .  *
          C. The Federal Reserve Bank of New York
               1. Summary. . . . . . . . . . . . . . .  H
               2. Charts on Staffing Statistics. . . .  H1
               3. Graphs on Staffing Statistics. . . .  *
          D. The Federal Reserve Bank of Philadelphia
               1. Summary. . . . . . . . . . . . . . .  I
               2. Charts on Staffing Statistics. . . .  I1
               3. Graphs on Staffing Statistics. . . .  *
          E. The Federal Reserve Bank of Cleveland
               1. Summary. . . . . . . . . . . . . . .  J
               2. Charts on Staffing Statistics. . . .  J1
               3. Graphs on Staffing Statistics. . . .  *
          F. The Federal Reserve Bank of Richmond
               1. Summary. . . . . . . . . . . . . . .  K
               2. Charts on Staffing Statistics. . . .  K1
               3. Graphs on Staffing Statistics. . . .  *
          G. The Federal Reserve Bank of Atlanta
               1. Summary. . . . . . . . . . . . . . .  L
               2. Charts on Staffing Statistics. . . .  L1
               3. Graphs on Staffing Statistics. . . .  *         
          H. The Federal Reserve Bank of Chicago
               1. Summary. . . . . . . . . . . . . . .  M
               2. Charts on Staffing Statistics. . . .  M1
               3. Graphs on Staffing Statistics. . . .  *
          I. The Federal Reserve Bank of St. Louis
               1. Summary. . . . . . . . . . . . . . .  N
               2. Charts on Staffing Statistics. . . .  N1
               3. Graphs on Staffing Statistics. . . .  *
          J. The Federal Reserve Bank of Minneapolis
               1. Summary. . . . . . . . . . . . . . .  O
               2. Charts on Staffing Statistics. . . .  O1
               3. Graphs on Staffing Statistics. . . .  *
          K. The Federal Reserve Bank of Kansas City
               1. Summary. . . . . . . . . . . . . . .  P
               2. Charts on Staffing Statistics. . . .  P1
               3. Graphs on Staffing Statistics. . . .  *
          L. The Federal Reserve Bank of Dallas
               1. Summary. . . . . . . . . . . . . . .  Q
               2. Charts on Staffing Statistics. . . .  Q1
               3. Graphs on Staffing Statistics. . . .  *
          M. The Federal Reserve Bank of San Francisco
               1. Summary. . . . . . . . . . . . . . .  R
               2. Charts on Staffing Statistics. . . .  R1
               3. Graphs on Staffing Statistics. . . .  *          
	* Note:  Graphs are not available in ASCII format
          but they are present on the hard copy distributed
          by the House Banking Committee.  To obtain a hard
          copy write:
          United States House of Representatives
          Committee on Banking, Finance and Urban Affairs
          2129 Rayburn
          Washington, D.C.  20510



                      November 22, 1993


Members of the House of Representatives
Committee on Banking, Finance and Urban Affairs
Washington, D.C. 20515
Dear Colleagues:
     Transmitted herewith for consideration of the Committee
on Banking, Finance and Urban Affairs is a study entitled
Status of Equal Employment Opportunity at the Federal Reserve:
Diversity Still Lacking.  This report is a follow-up to the
Committee's 1990 and 1992 studies.
     In 1990, the Committee conducted an extensive study on
the racial, gender and background profiles of the directors of
the Federal Reserve Banks. This study found that minorities
and women as well as consumer and labor representatives, were
systematically excluded from directorships at the Federal
Reserve Banks. In 1992, the Committee conducted a study of
Equal Employment Opportunity (EEO) and minority and women
contracting at the Federal banking agencies, which illustrated
the disparity in hiring and contracting practices with respect
to minorities and women.  
     This study examines the staffing statistics of the
Federal Reserve Board and twelve Federal Reserve Banks. It
also examines their EEO and Affirmative Action programs, as
well as the EEO reporting structure and the distribution of
cash awards disbursed by the Federal Reserve to its employees.
The report demonstrates that minorities and women are
consistently underrepresented in the highest paid and most
important decision-making positions at the Board and Reserve
Banks, a condition that unfortunately also exists at other
Federal banking regulatory agencies.  At the Federal Reserve
the underrepresentation of minorities and women in positions
in the "pipeline" to the official level shows that this
pattern of discrimination is unlikely to change in the near
future.
     There is no question that the Federal Reserve's actions
and responsibilities in establishing monetary policy,
supervising and regulating member banks and enforcing a number
of important consumer banking laws affect every U.S. citizen.
The failure of the Federal Reserve to include minorities and
women in the policy-making process leaves an enormous segment
of the population without a voice in these important
decisions.  This failure also reduces the confidence that can
be placed in the commitment of Federal Reserve officials to
eradicate redlining and other lending discrimination.
     In addition, the Federal Reserve, which is our nation's
central bank, serves as a role model for other banking
institutions. This role model has had Federal Reserve
presidents serving five-year terms at each of the twelve
Federal Reserve Banks since the central bank was established
by an act of Congress in December 1913.  In all this time,
there have been 110 Federal Reserve Bank presidents, yet there
has never been a minority Federal Reserve Bank president and
only once a woman. Each president of a Federal Reserve Bank is
elected by a nine-member board of directors and then the
appointment is subject to the approval of the Board of
Governors in Washington. Six of the nine members on each board
of directors are elected by private banks in the district,
which are officially member banks of the Federal Reserve
System. Thus, the presidents have a banker constituency. The
result is not difficult to determine. The presidents of the
Federal Reserve Banks since 1913 are primarily bankers and
their friends. The dismal record in selecting women and
minorities is a strong sign of the closed nature of this
group. 
     President Clinton has made a commitment to diversity in
the Federal government by appointing women and minorities to
top positions within the Administration.  On April 14, 1993,
I wrote the President urging him to include the Federal
banking agencies and the Federal Reserve in this effort.  In
addition, I provided the President the response from Chairman
Greenspan regarding the Federal Reserve Board's salary
compensation with respect to women and minority employees.  Of
the 34 staff members of the Board of Governors earning over
$125,000 in 1993, only one is a woman and one is listed as
"non-white."  The Board of Governors reported to me that
twelve staff members earn $161,800 which exceeds the 1993 pay
of cabinet officers ($148,400). None of these twelve is a
woman or a minority person. The Federal Reserve Banks have 82
staff employees earning over $125,000 per year of whom only 14
are women and 3 are listed as "non-white." Unfortunately, I
have yet to receive a response from the President.  
     It is my hope that the continuing efforts to monitor and
evaluate the Federal Reserve's employment practices will
highlight this Committee's commitment to ensuring equal
employment opportunity.  Discrimination in hiring and
promotion of women and minorities at the Federal Reserve will
not be tolerated.
     I commend this report to your attention.  With warmest
personal regards, I remain
                                        Sincerely,


                                        Henry B. Gonzalez
                                        Chairman                            
TAB B
                        Introduction


     Rule X of the House of Representatives assigns the
Committee on Banking, Finance and Urban Affairs broad
investigatory powers over the operation and activities of the
agencies and departments subject to its legislative
jurisdiction.  
     As part of the Committee on Banking, Finance and Urban
Affair's continuing oversight of the Federal Reserve System,
letters requesting specific information regarding equal
employment opportunity (EEO) were sent to the Board of
Governors of the Federal Reserve System (Board) and each of
the twelve Federal Reserve Banks (Reserve Banks).  What
follows are findings and recommendations, a summary of the
Board's and each of the Reserve Bank's reported information on
this issue and copies of the letters to and responses from
each.
     
TAB C                      FINDINGS
1)   Minorities and women are significantly underrepresented
at the highest levels of the Federal Reserve Board and the
Federal Reserve Banks.
     Systemwide, there are no minorities and few women at the
senior officers level. Even more disturbing, the limited
representation of women and minorities in the "pipeline"
(grades 14-16) to official level positions, demonstrates that
increased minority and women representation is unlikely to
occur in the near future.  
2)   The Board's method of grading the Reserve Banks' Equal
Employment Opportunity and staffing statistics does not
accurately reflect Reserve Bank performance.
     The Reserve Banks are considered private entities with
regard to EEO issues, and therefore are not required to file
their affirmative action plans with the Equal Employment
Opportunity Commission (EEOC).  Instead, the Reserve Banks
provide this information to the Board for evaluation. 
However, the Board's grading method is not formalized and is
subjective in nature. The Board evaluates the status of the
Reserve Banks by measuring each Reserve Bank's actual staffing
statistics in relation to the work force availability and the
goals established for each EEO-1 category (Officers and
Managers, Professionals and Technicians.)  The Board's EEO
Programs Officer can alter these grades by weighing other
unspecified information. However, the Banks set their own
goals, which are usually based on the work force availability
data that, again, they choose.  This method of evaluation not
only allows the Banks to, in effect, determine their own
grades, but more importantly, penalizes those Banks that set
higher goals. It is therefore not surprising that the Reserve
Banks' goals are less than ambitious.  
3)   Affirmative action plans lack results-oriented goals and
sufficient monitoring.
     The Federal Reserve Board and the Federal Reserve Banks
provided extensive information on their affirmative action
efforts. However, in many cases these efforts are not
monitored in relation to actual staffing goals and statistics. 
In addition, many of the programs that are detailed do not
address deficiencies in minority and women representation at
specific levels of the Reserve Banks. Most importantly,
relatively few Reserve Banks provided information on
initiatives tailored to increase minority and women
representation in the critical official and managerial
positions.
4)   Those employees responsible for Equal Employment
Opportunity (EEO) programs are too far removed from Presidents
and Board of Governors.
     The Board's rules on Equal Employment Opportunity state
that the EEO Officer should be a senior officer (senior vice
president or above) independent of the personnel or human
resources departments who reports directly to the president or
first vice president of the Reserve Bank (see Federal Reserve
Bank of Cleveland's response attachment 1 d. 1.)   Even though
the Board maintains that it has followed this approach, its
own EEO programs officer is not a senior officer and does not
report to the Board or the administrative governor directly. 
The Board has failed to implement its own policy even after
the Board's inspector general issued a report in 1989 strongly
recommending compliance with this EEO policy. It is,
therefore, not surprising that many of the Reserve Banks have
not instituted this policy. 
5)   Lack of recruitment efforts at predominately minority
colleges and universities.
     It is incomprehensible that the Board and Reserve Banks
defend the lack of minorities in official and managerial
positions by pointing to the difficulties they have faced in
recruiting qualified minority candidates, when only two of the
Reserve Banks stated that their recruiting efforts included
visits to predominately minority colleges and universities. 
TAB D
                       RECOMMENDATIONS
1)   The Board and the Reserve Banks must take immediate
action to increase the hiring and promotion of minorities and
women.
     It is evident that minorities and women are
underrepresented at the important decision-making levels at
the Board and Reserve Banks.  A real commitment by the Board
of Governors and the Presidents of the Federal Reserve Banks
and implementation of comprehensive programs are necessary to
effect change.  The lack of minorities and women is evidence
that neither exists.
2)   The Board's method of grading the Reserve Banks for equal
employment opportunity should be changed to accurately reflect
Reserve Banks' performance.
     Since the Board is the only body to review the Reserve
Bank's status on EEO, it is imperative that the Board's grades
and evaluations truly reflect the Reserve Banks' EEO
performance. To achieve this, the Board's grading system must
be comprehensive, uniform, consistent, objective and
formalized.  Most notably, it is inappropriate and
unacceptable to continue to base the Reserve Bank's grades
almost entirely on their ability to meet the goals for women
and minority representation that they themselves set.  
3)   Affirmative action efforts should be results-oriented and
monitored regularly to measure effects.
     Affirmative action efforts must be specific, goal-
oriented and monitored regularly to ensure that they result in
increased hiring and promotions of women and minorities. In
addition, recruiting and development programs should focus on
increasing minority and women representation at the official
and managerial levels.
4)   The Board's policy on equal employment opportunity must
be implemented.
     The Board's failure to implement its own policy on the
reporting structure and make-up of its equal employment
opportunity office is inexcusable.  The Board and Reserve
Banks must take immediate action to remedy this violation and
comply with the Board's own policy. 
     
5)   Congress should take action to define the Board and
Reserve Banks as "executive agencies" under Title VII of the
Civil Rights Act of 1964.
     The Equal Employment Opportunity Commission (EEOC)
considers the Board an executive agency for purposes of
compliance with Title VII of the Civil Rights Act of 1964. 
The Board has claimed that it is exempt, but states that it
complies with the spirit of the law. In addition, the EEOC has
taken the position that the Reserve Banks are private
employers covered by the private sector provisions in Title
VII rather than executive agencies covered under federal
sector provisions.  It is necessary for Congress to define the
Board and Reserve Banks as executive agencies under Title VII
to ensure compliance with this act.
     
6)   The Board's and Reserve Banks' recruiting efforts should
be expanded to include on-campus visits to predominately
minority colleges and universities.  
     By neglecting to recruit from predominately minority
colleges and universities, the Board and Reserve Banks limit,
from the onset, their ability to locate qualified minority
applicants for higher-level Board and Reserve Bank positions. 
7)   The selection process for the twelve presidents of the
Federal Reserve Banks should be changed to encourage
diversity.
     Since 1914, when the Federal Reserve began operations, no
minorities and only one woman have served as a Reserve Bank
president.  The Board and Reserve Banks should examine the
process by which these presidents are selected and provide a
new system of selection because, as far as diversity is
concerned, the 80 year experience is a complete failure.
TAB E
TAB F
      Board of Governors of the Federal Reserve System
                         (The Board)
Organizational Structure
     The Board reports that its Equal Employment Opportunity
Programs Office (EEOPO) is responsible for administering its
EEO programs.  The staff of the EEOPO consists of the EEO
Programs Officer, two senior EEO specialists, and a senior EEO
technician. The EEO programs officer appears before the
Board's Bank Activities Committee annually concerning EEO
issues.  However, the EEO programs officer is not a senior
officer and does not report directly to the Board or even the
Administrative Governor.  Additionally, the office of the
Staff Director for Management, in which the EEO programs
officer serves, can be considered a personnel department,
since it is responsible for the oversight of the Board's
management and administrative functions.  This is a clear
violation of the Board's established rules on Equal Employment
Opportunity.
Equal Employment Opportunity
      The Board's work force is analyzed by PATCOB
(Professional, Administrative, Technical, Clerical, Other and
Blue Collar), pay plan, populous job families, and by grades
using year-end data. Hiring goals and activities are based on
the results of the work force analysis, planned vacancies, and
the availability of candidates in the relevant labor market. 
The Board follows the process established by the EEOC
guidelines in developing minority and women hiring and
advancement goals. The EEOC has not yet sent its guidelines on
establishing multi-year goals for 1994, thus the Board has not
provided its 1994 EEO goals.  
     The Board monitors and evaluates the training and
development activities by division to determine the extent and
level of minority and women participation. During the first
two quarters of 1992, non-minority employees had more training
dollars spent on them than any other EEO group. Non-minority
males received the greatest share of training dollars, more
than two times that spent on all other employees.  In 1991,
seven men, no women and no minorities participated in
executive development programs (training for senior
management/officers). During the first two quarters of 1992,
there were 99 Executive Development sessions: non-minority
employees attended 86 of these sessions, of which 69 were
attended by non-minority males.
     The Board's recruitment activities are developed by the
Division of Human Resources Management with each division
responsible for the approved goal.  A summary of the
recruitment activities for 1991 and 1992 sheds some light on
the possible reasons for the low numbers of minorities and
women in high level positions at the Board.  In 1991, the
Board participated in a number of recruiting efforts at
colleges, universities and career fairs across the country.  
While the Board's summary includes a breakdown for the numbers
of minority and women students interviewed at the recruiting
event, it generally does not specify the race and gender of
those students called back for further interviews, given
employment offers or hired. Nonetheless, the overall
recruiting numbers show that minorities are less likely to be
interviewed on campus by the Board.  This may be due to the
omission of recruiting at colleges and universities that have
predominately minority student bodies.  For example, during
the last quarter of 1991 and first and second quarters of
1992, the Board conducted on campus interviewing at six
universities located in the Washington, D.C. metropolitan
area, including: American, Georgetown, George Mason,
Gallaudet, George Washington and the University of Maryland.
However, they did not recruit from Howard University, a
predominately minority university located in Washington, D.C.
     Unfortunately, even when the Board participated in
minority career fairs, minorities remained less likely to be
referred to specific divisions of the Board for further
review. For example, the Board participated in a minority
career fair sponsored by the Lendman Group and Urban League of
Fairfax County in 1992. Of the 354 persons interviewed at the
fair, 194 were White, 93 were African American and 67 were
Asian. Yet, of the six individuals referred to divisions, four
were White males, one was a White female, and one was an Asian
male.
     The Board reports that in order to encourage greater
hiring and advancement of women and minorities, the Board will
be establishing an internal "Advisory Committee on Affirmative
Action" made up of officers appointed by each division.  This
Advisory Committee will be responsible for analyzing actual
Board staffing statistics and providing recommendations to
improve minority and women representation, especially at the
senior levels. The Advisory Committee's preliminary findings
will be reported by February 1994, and recommendations will be
considered by the Human Resources Division, senior management,
the EEO office, and the Administrative Governor.
     
Staffing Statistics 
     The staffing statistics of the Board do not illustrate a
successful program of recruiting and promoting minorities and
women to the highest paid positions.  The top ten highest paid
employees at the Federal Reserve Board are all White males. 
Minorities and women account for only 6.2% and 17.61% of the
highest ten percent paid employees, respectively.  However, of
the lowest ten percent paid employees, 66.67% are women and
91.2% are minorities.
     The statistics show that minorities and women account for
only 10.6% and 20.2% of the Board's official staff.  Not only
are they underrepresented at the official level but of those
positions in the "pipeline" (grades 13-15) to official staff
positions, minorities and women represent only 15.4% and
36.8%, respectively. 
     These numbers are particularly disturbing in light of the
fact that the Board monitors and evaluates the Reserve Bank's
affirmative action plans and EEO goals.  It is questionable
whether the Board can adequately evaluate and promote EEO and
staffing diversity when its own staffing statistics reflect
minimal success in hiring, advancing and maintaining minority
and women representation.
Cash Awards
     The Board provided policy statements concerning
compensation and benefits programs for the entire Federal
Reserve System.  Officers and employees at the Board and
Reserve Banks (except for the president and first vice
president) are eligible for cash award programs. The maximum
amount to be allocated for cash awards is up to three quarters
of one percent of the eligible employees' salary base. 
Individual awards should not exceed ten percent of base salary
or $5,000, whichever is higher. However, the Board's policy
limits cash awards to a maximum of ten percent of salary.
Other limitations include restrictions on the number of awards
that can be received in a five-year period, and a limitation
of one cash award for the same performance contribution.
     In addition, the Reserve Banks may establish incentive-
based programs for officers. The maximum total amount
allocated for Reserve Bank officer cash and incentive awards
is established at 1.5 percent of the eligible Reserve Bank
officer salary base.  Of the 1.5 percent, three quarters of
one percent could be used to fund cash awards using the same
guidelines above, or the full 1.5 percent could be used to
fund incentive awards; however, any individual incentive award
may not exceed 20 percent of salary.
     The Board provided its own cash awards statistics by
number of recipients only. Therefore, it is impossible to
determine whether the specific monetary amounts would
illustrate any disparity.  
TAB F    
                       Federal Reserve Board
     Highest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |      3 |    1.9 |      3 |   1.89 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     25 |   16.2 |     28 |  17.61 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |      6 |    4.9 |      7 |    4.4 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    128 |   83.1 |    131 |  82.39 |
     +---------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |     87 |   56.5 |     95 |  59.75 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     98 |   63.6 |    106 |  66.67 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     52 |   33.7 |     50 |  31.45 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |     56 |   36.3 |     53 |  33.34 |
     +---------------+--------+--------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |    349 |   22.5 |    361 |  22.67 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    736 |   47.7 |    758 |  47.61 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |    220 |   14.2 |    224 |   14.1 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    806 |   52.2 |    834 |   52.3 |
     +---------------+--------+--------+--------+--------+
    
1992 Employee Statistics*
                   Board  Official  Grades   Grades    Grades   Blue Collar
                  Members   Staff    13-15    7-12       1-6
 +---------------+--------+--------+--------+--------+----------+-----------+
 |Minority Women |      0 |      3 |     53 |    166 |      117 |        22 |
 +---------------+--------+--------+--------+--------+----------+-----------+
 |Total Women    |      1 |     21 |    235 |    333 |      176 |        79 |
 +---------------+--------+--------+--------+--------+----------+-----------+
 |               |        |        |        |        |          |           |
 +---------------+--------+--------+--------+--------+----------+-----------+
 |Minority Men   |      0 |     11 |     45 |     47 |       35 |        88 |
 +---------------+--------+--------+--------+--------+----------+-----------+
 |Total Men      |      7 |     86 |    403 |    160 |       39 |       106 |
 +---------------+--------+--------+--------+--------+----------+-----------+
 *Please note that the Federal Rserve Board pay plan and grades are not
 equivalent to those used by other government agencies.  The following
 data was compiled according to the Board's comparability chart found
 in Attachment A of the Board's 1992 response.                            
TAB G
               Federal Reserve Bank of Boston
                        (Boston Bank)
Organizational Structure
       The Boston Bank's EEO Officer is a senior vice
president who reports directly to the president on EEO issues. 
The EEO officer and EEO coordinator are responsible for
developing, coordinating and monitoring the Boston Bank's
affirmative action plan (AAP).  Senior vice presidents are
responsible for the achievement of affirmative action goals
within their groups and for reporting the group's progress to
the EEO officer.  
Equal Employment Opportunity
     The Boston Bank states that one of its long-standing
goals is to increase the number of women and minorities in
higher-grade categories.  To achieve this objective the Boston
Bank reports that it aggressively recruits minorities.  The
Boston Bank visits college campuses and conducts on-campus
recruiting at various New England colleges and universities,
in addition to participating in Career Expo, a three-day
minority information and recruiting exposition. As a result of
these efforts the Boston Bank reports that twelve minority
candidates were hired in 8-12 grade range, representing 32% of
total hires in this group.  
     In addition, the Boston Bank states that training is an
essential component of facilitating upward mobility for
minorities and women. The Boston Bank offers a tuition
reimbursement program for those employees who enroll in
courses at local colleges and universities. The Boston Bank
reports that the principle target group for this effort is
represented by those in grades 8-11 who exhibit the highest
probability for movement into grades 12-16 category. The
Boston Bank does not provide data on the number of women and
minorities selected for and participating in the above
programs.  
     The Boston Bank's AAP details a number of other programs
established to promote minority representation at the Boston
Bank.  However, most of these programs provide assistance to
entry-level clerical employees.
     The Boston Bank acknowledges that it has had difficulty
increasing the number of minority officers.  It attributes
this to its few number of officers combined with the extremely
competitive climate, including strong salary pressures, for
minority professionals in the Boston market. 
Staffing Statistics
     The Boston Bank provided its staffing statistics for its
highest and lowest ten percent employees in such a way that it
was not possible to determine the number of minority men and
minority women represented.  Nevertheless, it is evident that
minorities are significantly underrepresented at the highest
levels of the Boston Bank. No minorities and two women are
represented in the Boston Bank's ten highest paying positions. 
Of the highest ten percent paid employees, women comprise
26.8% and minorities represent 3.8%.  Of the lowest ten
percent paid employees, 63% are women and 69.1% are
minorities.
     While women and minorities represent over 56% and 26% of
the Boston Bank's total employees, respectively, they
represent only 29.8% and 3.6% of those employees at the
official level.  In addition, minorities and women comprise
only 35.6% and 8.9% of those employees in the 14-16 grades,
who are most likely to be promoted to official level
positions.
(Please see attachments for a summary of Boston Bank staffing
statistics)
Cash Awards
     The bank provided data on the total amount of awards
issued per grade as well as the number of recipients per
grade.  Due to the low numbers of minorities represented at
the officer and 14-16 grades, awards granted to minorities in
theses grades are nominal.  Specifically, 76 men and 34 women
were granted cash awards totalling $61,448 and $40,575,
respectively, while 10 minorities were granted $14,259.
TAB G1
     Federal Reserve Bank of Boston
     Highest Ten Percent Paid Employees
                       1991     1992
     +---------------+--------+--------+
     |Total Men      |    112 |    110 |
     +---------------+--------+--------+
     |Total Women    |     43 |     44 |
     +---------------+--------+--------+
     |Total Minority |      6 |      6 |
     +---------------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991     1992
     +---------------+--------+--------+
     |Total Men      |     61 |     57 |
     +---------------+--------+--------+
     |Total Women    |     94 |     97 |
     +---------------+--------+--------+
     |Total Minority |     65 |     69 |
     +---------------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+---------+
     |Minority Women |    261 |  16.42 |    264 |   17.12 |
     +---------------+--------+--------+--------+---------+
     |Total Women    |    895 |  56.32 |    868 |   56.33 |
     +---------------+--------+--------+--------+---------+
     |               |        |        |        |         |
     +---------------+--------+--------+--------+---------+
     |Minority Men   |    156 |   9.81 |    150 |    9.23 |
     +---------------+--------+--------+--------+---------+
     |Total Men      |    694 |  43.68 |    673 |   43.67 |
     +---------------+--------+--------+--------+---------+
     1992 Employee Statistics*
                               Grades   Grades    Grades
                     Officers   14-16    10-13     1-9
     +---------------+--------+--------+--------+---------+
     |Minority Women |      1 |      8 |     43 |     212 |
     +---------------+--------+--------+--------+---------+
     |Total Women    |     17 |     64 |    193 |     594 |
     +---------------+--------+--------+--------+---------+
     |               |        |        |        |         |
     +---------------+--------+--------+--------+---------+
     |Minority Men   |      1 |      8 |     34 |     107 |
     +---------------+--------+--------+--------+---------+
     |Total Men      |     40 |    116 |    232 |     285 |
     +---------------+--------+--------+--------+---------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those used
     by other government agencies.  The following chart
     was compiled according to the converted data
     supplied by the Bank.
TAB H
              Federal Reserve Bank of New York
                       (New York Bank)
Organizational Structure
     The New York Bank's EEO Office is a separate unit in the
Bank, independent of its personnel department.  The EEO
Officer is an officer who reports directly to the New York
Bank's president.  The New York Bank reports that its annual
Affirmative Action Plan (AAP), which includes annual and
multi-year affirmative action goals, is submitted to the
Bank's board of directors each year for review and approval.
The Equal Employment Opportunity (EEO) Officer is responsible
for formulating the New York Bank's AAP as well as monitoring
and evaluating its effectiveness.  In addition, the EEO
Officers periodically report on the Bank's affirmative action
efforts to the Committee on Management Development and
Compensation.  At the end of each year, the EEO Officers
report to the president and first vice president on
significant EEO matters, including affirmative action
achievement and the status of internal and external
discrimination complaints.  
Equal Employment Opportunity
     
The New York Bank states that college recruitment is a
key component of its efforts to develop a critical "feeder
pool" of talented minorities and women for succession to
senior staff and officer positions.  Of the 140 undergraduate
and graduate level students hired by the New York Bank in
1992, 38% were minorities and 48% were women.  While this is
encouraging, the New York Bank does not specify the
percentages of those employees hired to positions in the
"pipeline" to senior staff.
     Two years ago, the New York Bank initiated programs to
reach out to a larger pool of minority candidates on college
campuses, including attending more minority job fairs and
hosting information sessions for minority organizations on
campuses where they recruit and network with previous summer
interns from predominately minority schools.  However, the New
York Bank provides no information on the number of minorities
hired as a result of these efforts.  
     While the New York Bank states that as a part of its AAP,
it will place a greater emphasis on training and development
of minorities and women, it fails to provide specifics on any
new programs initiated nor does it include any information on
the numbers of minorities and women participating in current
training and development programs.
Staffing Statistics
     The New York Bank's overall staffing statistics show that
while women and minorities make up over 50% and 46% of the New
York Bank's total population, they represent 26.7% and 13.4%
of the highest ten percent paid employees in 1992. Of the New
York Bank's top ten paid employees, two women and no
minorities are represented.  However, of the New York Bank's
lowest ten percent paid employees, 63% are women of which 38%
are minorities, and 37% are men of which 22.4% are minorities.
(See attachments for a summary of New York Bank staffing
statistics)
Cash Awards
     The New York Bank supplied data on its cash awards
program which included a breakdown for total awards per grade
as well as number of recipients per grade. However, the New
York Bank does not specify the gender of recipients according
to race.  Therefore, amounts awarded to minority women may be
counted twice. Nonetheless, the data provided show that women
and minorities receive on average, significantly lower cash
awards than men and non-minorities.  Specifically, of the
$1,235,731 granted in cash awards in 1992, the average amount
awarded to men was $1,769, while women received $1,246, non-
minorities received an average of $1,810, while minorities
received $1,027.
TAB H1
     Federal Reserve Bank of New York
     Highest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |     20 |    4.9 |     20 |    5.1 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    107 |   26.2 |    106 |   26.7 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     36 |    8.9 |     33 |    8.3 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    301 |   73.8 |    291 |   73.3 |
     +---------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |    154 |   37.2 |    151 |   38.1 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    257 |   62.1 |    250 |     63 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     95 |   22.5 |     89 |   22.4 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    157 |   37.9 |    147 |     37 |
     +---------------+--------+--------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |   1097 |   26.9 |   1079 |   27.1 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |   2120 |   51.9 |   1994 |   50.1 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |    754 |   18.4 |    763 |   19.2 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |   1964 |     48 |   1981 |   49.9 |
     +---------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                               Grades   Grades   Grades
                     Officers   14-16    10-13     1-9
     +---------------+--------+--------+--------+--------+
     |Minority Women |      8 |     30 |    145 |    896 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     50 |    127 |    410 |   1407 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     12 |     40 |    161 |    549 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    127 |    293 |    586 |    974 |
     +---------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay plans
     and grades are not equivalent to those used by other
     government agencies.  The following chart was compiled
     according to converted data supplied by the Bank.
TAB I
            Federal Reserve Bank of Philadelphia
                    (Philadelphia Bank) 
Organizational Structure
     The Vice President of Human Resources is the designated
Equal Employment Opportunity (EEO) Officer who is responsible
to the president and first vice president for establishing the
Philadelphia Bank's EEO/Affirmative Action programs as well as
evaluating and recommending changes in the Philadelphia Bank's
policy.   The Philadelphia Bank's EEO Manager is responsible
to the EEO Officer for, among other things, developing,
recommending and implementing affirmative action goals,
objectives and monitoring compliance.  Annually, the EEO
Manager meets with senior officers to discuss the EEO status
and needs of their respective functions, conducts audits of
the Philadelphia Bank's Affirmative Action Plan (AAP) and
provides reports to all senior officers.
Equal Employment Opportunity
     In its AAP for 1992-1996 the Philadelphia Bank states
that a number of factors will affect the work force and the
Philadelphia Bank's affirmative action program.  Among the
factors cited are the maturing of the available work force,
slowing of the population growth in the Philadelphia
Metropolitan area, and consolidation of the Bank's Computer
Services Department functions. The Philadelphia Bank noted
that the largest increase in the American labor force during
this period will be women, minorities and immigrants.  The
Philadelphia Bank states that it seeks to meet these changes
by seeking new resources of recruiting and moving more women
and minorities into "pipeline" through specialized training,
education and other development opportunities.  
     The Philadelphia Bank reports that it participates in
several programs in its efforts to promote and enhance the
Philadelphia Bank's AAP for minorities and women.  While the
Philadelphia Bank's participation in such programs as the
Philadelphia Business Academy High School program and Phil-A-
Job Summer Youth Employment Program is encouraging, these
programs only assist the Philadelphia Bank in recruiting
minorities into entry-level positions, which have larger
minority representation than upper-level official and
professional positions. Other than its stated emphasis on
recruitment at colleges, employment agencies, professional
trade associations, along with other community service
organizations, the Philadelphia Bank does not detail its
efforts to recruit minorities and women into official level
positions. 
Staffing Statistics 
     An examination of the Philadelphia Bank's staffing
statistics shows that the AAP has been unsuccessful in both
the hiring and the advancement of minorities and women to the
highest paid positions at the Philadelphia Bank. Of the
Philadelphia Bank's top ten paid employees in 1992, no
minorities and no women are represented. In addition, women
and minorities constitute only 15% and 10%, respectively, of
the highest ten percent paid employees. Most disturbing is the
fact that while the number of women and minorities in this
category remain unchanged from 1991 to 1992, 26 more non-
minority men are represented in 1992 statistics than in 1991
statistics.
(See attachments for a summary of Philadelphia Bank staffing
statistics)
Cash Awards
     The Philadelphia Bank provided the numbers of recipients
of cash awards by race and gender. It did not specify the
amount of cash awards by race and gender, but only the total
amount awarded to each grade category.  While the number of
women and minority recipients are generally balanced, it is
impossible to determine whether the amounts of awards to these
recipients would illustrate any disparity.
TAB I1
     Federal Reserve Bank of Philadelphia
     Highest Ten Percent Paid Employees
                   1991               1992
                  Number   Percent   Number     Percent
 +---------------+--------+--------+----------+----------+
 |Minority Women |      3 |   2.26 |        3 |     2.16 |
 +---------------+--------+--------+----------+----------+
 |Total Women    |     21 |  15.79 |       21 |    15.11 |
 +---------------+--------+--------+----------+----------+
 |               |        |        |          |          |
 +---------------+--------+--------+----------+----------+
 |Minority Men   |     13 |   9.77 |       14 |     7.91 |
 +---------------+--------+--------+----------+----------+
 |Total Men      |    112 |  84.21 |      139 |    84.89 |
 +---------------+--------+--------+----------+----------+
     Lowest Ten Percent Paid Employees
                   1991               1992
                  Number   Percent   Number     Percent
 +---------------+--------+--------+----------+----------+
 |Minority Women |     58 |  43.61 |       59 |    42.45 |
 +---------------+--------+--------+----------+----------+
 |Total Women    |     77 |  57.89 |       81 |    58.27 |
 +---------------+--------+--------+----------+----------+
 |               |        |        |          |          |
 +---------------+--------+--------+----------+----------+
 |Minority Men   |     38 |  28.57 |       39 |    28.06 |
 +---------------+--------+--------+----------+----------+
 |Total Men      |     56 |  42.11 |       58 |    41.73 |
 +---------------+--------+--------+----------+----------+
     Total Bank Employees
                   1991               1992
                  Number   Percent   Number   Percent
 +---------------+--------+--------+----------+----------+
 |Total Men      |    747 |  49.93 |      766 |    50.43 |
 +---------------+--------+--------+----------+----------+
 |Total Women    |    749 |  50.07 |      753 |    49.57 |
 +---------------+--------+--------+----------+----------+
 |Total Minority |    616 |  41.18 |      617 |    40.62 |
 +---------------+--------+--------+----------+----------+
     1992 Employee Statistics*
                           Grades    Grades     Grades
                 Officers   14-16     10-13       1-9
 +---------------+--------+--------+----------+----------+
 |Total Men      |     47 |    150 |      186 |      334 |
 +---------------+--------+--------+----------+----------+
 |Total Women    |     12 |     58 |      180 |      499 |
 +---------------+--------+--------+----------+----------+
 |Total Minority |      6 |     24 |      129 |      457 |
 +---------------+--------+--------+----------+----------+
     *Please note that the Federal Reserve Banks' pay plans
     and grades are not equivalent to those used by other
     government agencies. The following chart was compiled
     according to converted data supplied by the Bank.
TAB J
              Federal Reserve Bank of Cleveland
                      (Cleveland Bank)
Organizational Structure
     The senior officer in charge of the Human Resources
department is responsible for the construction and
implementation of the Equal Employment Opportunity (EEO)
program. Each year the Cleveland Bank establishes its
Affirmative Action Plan (AAP), which is reviewed by the
Cleveland Bank's board of directors. The senior vice
presidents are responsible for achieving the EEO goals set out
in the plan.  The Cleveland Bank provided an organizational
chart of the EEO Officer's reporting structure which suggests
that the EEO Officer reports directly to the president.
Equal Employment Opportunity
     The Cleveland Bank's affirmative action activities, as
outlined in its AAP, include a number of programs designed to
achieve its affirmative action plan goals, including college
recruitment, participation in the INROADS program, as well as
internship programs.  However, these programs generally result
in the recruitment of entry-level clerical employees. 
     With respect to training and development of potential
minority and women candidates for promotions, the bank
provides information on several initiatives established to
address this issue. For instance, the Cleveland Bank offered
a tuition reimbursement for college courses in 1992 and states
that two women successfully graduated from the formalized
management development program.  
     The Cleveland Bank does not provide any information on
programs established to hire and advance minorities and women
to official and managerial positions.
Staffing Statistics
     The Cleveland Bank provided its staffing statistics in
two formats, one dividing employees by gender and the other by
minority and non-minority categories. This method of reporting
does not allow for the breakdown of minority men and women in
each pay grade.  
     The Cleveland Bank reports that among its ten highest
paid employees no minorities and one woman are represented. 
Of the Cleveland Bank's highest ten percent paid employees
12.9% are women and 8.6% are minorities.  However, of the
Cleveland Bank's lowest ten percent paid employees, 83.5% are
women and 62.6% are minorities.   
     In addition, while women and minorities make up over 54%
and 24% of the Cleveland Bank's total population,
respectively, they represent only 15.5% and 5.2% of those
employees at the official level, and 18.7% and 9.6% of those
employees in grades 14-16.
(Please see attachments for a summary of Cleveland Bank
staffing statistics)
     
Cash Awards
     The bank provided statistical data on the amounts of cash
awards given to each grade as well as the number of recipients
by grade.  
     Of those employees receiving cash awards, the average
award for minority employees in 1992 was $339.28, while women
received $473.07 and men received $728.02. In the officer and
14-16 grades, seven minority employees were granted a total of
$11,824 in cash awards, 18 women were awarded $32,507, and 57
men were awarded $125,170.
TAB J1
     Federal Reserve Bank of Cleveland
     Highest Ten Percent Paid Employees
                      1991              1992
                     Number   Percent  Number   Percent
     +--------------+--------+--------+--------+--------+
     |Minority      |      7 |    4.9 |     12 |    8.6 |
     +--------------+--------+--------+--------+--------+
     |Non-Minority  |    136 |   95.1 |    127 |   91.4 |
     +--------------+--------+--------+--------+--------+
     |              |        |        |        |        |
     +--------------+--------+--------+--------+--------+
     |Total Men     |    128 |   89.5 |    121 |   87.1 |
     +--------------+--------+--------+--------+--------+
     |Total Women   |     15 |   10.5 |     18 |   12.9 |
     +--------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                      1991              1992
                     Number   Percent  Number   Percent
     +--------------+--------+--------+--------+--------+
     |Minority      |     49 |   34.3 |     52 |   62.6 |
     +--------------+--------+--------+--------+--------+
     |Non-Minority  |     94 |   65.7 |     87 |   37.4 |
     +--------------+--------+--------+--------+--------+
     |              |        |        |        |        |
     +--------------+--------+--------+--------+--------+
     |Total Men     |     27 |   18.9 |     23 |   16.5 |
     +--------------+--------+--------+--------+--------+
     |Total Women   |    116 |   81.2 |    116 |   83.5 |
     +--------------+--------+--------+--------+--------+
     Total Bank Employees
                      1991              1992
                     Number   Percent  Number   Percent
     +--------------+--------+--------+--------+--------+
     |Minority      |    334 |   23.4 |    337 |     24 |
     +--------------+--------+--------+--------+--------+
     |Non-Minority  |   1093 |   76.6 |   1051 |     76 |
     +--------------+--------+--------+--------+--------+
     |              |        |        |        |        |
     +--------------+--------+--------+--------+--------+
     |Men           |    673 |   47.2 |    641 |     46 |
     +--------------+--------+--------+--------+--------+
     |Women         |    754 |   52.8 |    747 |     54 |
     +--------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                              Grades   Grades   Grades
                    Officers   14-16    10-13     1-9
     +--------------+--------+--------+--------+--------+
     |Minority      |      3 |     15 |     29 |    292 |
     +--------------+--------+--------+--------+--------+
     |Non-Minority  |     48 |    126 |    189 |    688 |
     +--------------+--------+--------+--------+--------+
     |              |        |        |        |        |
     +--------------+--------+--------+--------+--------+
     |Men           |     43 |    116 |    136 |    346 |
     +--------------+--------+--------+--------+--------+
     |Women         |      8 |     25 |     80 |    634 |
     +--------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those used
     by other government agencies.  The following chart
     was compiled according to the converted data
     supplied by the Bank.
TAB K
              Federal Reserve Bank of Richmond
                       (Richmond Bank)
Organizational Structure
     The Richmond Bank's senior vice president serves as the
Bank's Equal Employment Opportunity officer and is directly
responsible to both the president and to the first vice
president for administration of the Equal Employment
Opportunity (EEO) program.  The District EEO Office, with the
assistance of the other EEO officers in the District, the
officer in charge of Personnel, and the District EEO
coordinator, are responsible for developing, coordinating and
monitoring the implementation of the Richmond Bank's Equal
Employment Opportunity/ Affirmative Action Program. In
addition, the District EEO coordinator furnishes periodic EEO
management information reports to the president, first vice
president, and District EEO officer outlining
minority/women/disabled employment promotion and training.  
Equal Employment Opportunity
     As a part of the Richmond Bank's affirmative action
efforts, the bank reports that special attention is given to
the placement and advancement of women and minorities at the
officer level and grades equivalent to 11-16.  As a result of
these efforts, three women were appointed to the official
level in Richmond and one minority woman officer was promoted
to Assistant Vice President at Baltimore.
     While the Richmond Bank participates in a number of
programs as part of its EEO/Affirmative Action
accomplishments/initiatives; it is questionable whether these
programs are successful in the recruitment and hiring of
minorities and women, especially at the highest level
positions at the Richmond Bank.  For instance, the Richmond
Bank provided financial support to the American Economic
Association's Summer Program for Minority Students at Temple
University in Philadelphia. This summer the Richmond Bank
provided a part-time employment opportunity in the Research
Department for a former minority AEA participant.  In
addition, the Richmond and Charlotte offices each hosted one
student through the INROADS program, which targets minority
students with strong academic records for placement as summer
interns with corporations throughout their college careers. 
The Richmond Bank fails to provide specific information on any
initiatives designed to attract qualified minority and women
applicants for upper-level Richmond Bank positions.
Staffing Statistics
     The staffing statistics demonstrate that the affirmative
action efforts have been unsuccessful in achieving diversity
at the highest levels of the Richmond Bank.  Of the highest
ten percent paid employees in 1992, 39 are women, while 198
are men.  Of those 39 women, 14 are minorities while of the
198 men, 9 are minorities. In addition, no minorities are
represented in the top ten paid positions at the Richmond
Bank.  Conversely, of the lowest ten percent paid employees in
1992, 158 are women, of which 110 are minorities and 79 are
men, of which 42 are minorities.  In addition, women and
minorities constitute 56.8% and 33.8% percent of the total
number of bank employees respectively, yet they represent only
14.6% and 4.9% of those employees at the official level and
25.4% and 8.2% of those employees in grades 14-16.   
(Please see attachments for a summary of Richmond Bank
staffing statistics)
Cash Awards and Incentive Bonus Programs
     The Richmond Bank provided a chart of the amount of cash
awards and incentive bonuses given to employees in 1992 by
grade, but did not include the number of individuals in each
grade that received the awards or bonuses. Therefore it is
impossible to determine exactly how many employees within each
grade received awards or bonuses.  However, the staffing
statistics for total Richmond Bank employees by grade sheds
some light on these numbers. 
     The Richmond Bank offers cash awards to employees of
grades 4-16 and grades A, B, C, and D.  Total cash awards for
all women amounted to $215,116 of which $38,066 was awarded to
minority women.  Total cash awards for all men amounted to
$234,165 of which $30,375 was awarded to minority men. Of the
total amount awarded to men, $152,840 was awarded to the
officer and 14-16 grades, which consists of 251 employees. 
The remaining $81,325 was awarded to grades 4-13, which
consists of 715 employees.  Of the total amount awarded to
women, $69,750 was awarded to the officer and 14-16 grades,
which consists of 99 employees.  The remaining $145,366 was
awarded to grades 4-13, which consists of 1,228 employees.
     In addition, the Richmond Bank offers an incentive bonus
program for employees of the officer and 12-16 grades.  Of the
$298,814 awarded in incentive bonuses in 1992, $234,999 was
awarded to men, of which $10,000 went to minority men, while
$63,815 was awarded to women, of which $8,300 went to minority
women.
TAB K1
                 Federal Reserve Bank of Richmond
                 Highest Ten Percent Paid Employees
                                   1991     1992
                                  Number   Number
                 +---------------+--------+--------+
                 |Minority Women |      4 |     14 |
                 +---------------+--------+--------+
                 |Total Women    |     39 |     39 |
                 +---------------+--------+--------+
                 |               |        |        |
                 +---------------+--------+--------+
                 |Minority Men   |      9 |      9 |
                 +---------------+--------+--------+
                 |Total Men      |    175 |    198 |
                 +---------------+--------+--------+
                 Lowest Ten Percent Paid Employees
                                   1991     1992
                                  Number   Number
                 +---------------+--------+--------+
                 |Minority Women |     87 |    110 |
                 +---------------+--------+--------+
                 |Total Women    |    144 |    158 |
                 +---------------+--------+--------+
                 |               |        |        |
                 +---------------+--------+--------+
                 |Minority Men   |     42 |     42 |
                 +---------------+--------+--------+
                 |Total Men      |     70 |     79 |
                 +---------------+--------+--------+
                 Total Bank Employees
                                   1991     1992
                                  Number  Number
                 +---------------+--------+--------+
                 |Minority Women |    479 |    506 |
                 +---------------+--------+--------+
                 |Total Women    |   1248 |   1258 |
                 +---------------+--------+--------+
                 |               |        |        |
                 +---------------+--------+--------+
                 |Minority Men   |    227 |    243 |
                 +---------------+--------+--------+
                 |Total Men      |    893 |    956 |
                 +---------------+--------+--------+
                 1992 Staffing Statistics*
                                 Grades   Grades   Grades
                       Officers   14-16    10-13     1-9
       +---------------+--------+--------+--------+--------+
       |Minority Women |      2 |      9 |     79 |    417 |
       +---------------+--------+--------+--------+--------+
       |Total Women    |     17 |     82 |    353 |    875 |
       +---------------+--------+--------+--------+--------+
       |               |        |        |        |        |
       +---------------+--------+--------+--------+--------+
       |Minority Men   |      3 |     16 |     73 |    148 |
       +---------------+--------+--------+--------+--------+
       |Total Men      |     87 |    243 |    375 |    340 |
       +---------------+--------+--------+--------+--------+
             *Please note that the Federal Reserve Banks' pay
            plan and grades are not equivalent to those used
            by other government agencies. The following chart
            was compiled according to converted data supplied
            by the Bank.
TAB L
               Federal Reserve Bank of Atlanta
                       (Atlanta Bank)
Organizational Structure
     The Atlanta Bank reports that the Vice President and
Director of Human Resources is the District's Equal Employment
Opportunity officer, who reports directly to the President and
the Atlanta Bank's Management Committee on EEO issues. The
District's EEO Officer and the EEO officers at each of the
District offices have responsibility for monitoring
affirmative action progress.  The Atlanta Bank's managers and
the Atlanta senior officer are responsible for setting the
affirmative action goals for their area and monitoring
progress toward these objectives. The Atlanta Bank sets short-
term (one-year) and long-range (five-year) goals each year
based on the availability of minorities and women with
applicable skills in both the labor and recruiting areas. 
Equal Employment Opportunity
     As part of its efforts to recruit minorities and women,
the bank participated in several minority job fairs, including
the NAACP Fair and the Birmingham Urban Atlanta Bankers
Association Job Fair.  In addition, the Atlanta Bank reports
that its college recruiting program emphasizes visits to
colleges with predominately minority enrollments.  However,
the Atlanta Bank does not provide information on the success
of its outreach programs.  In addition, while the Atlanta
Bank's community programs are extensive, a large number of
these programs are centered on providing assistance to high
school students, and potential clerical and service employees.
     Other than its job posting and college/university
reimbursement program the Atlanta Bank offers no information
on any career advancement programs to help employees increase
their promotion potential.  
     
Staffing Statistics
     The Atlanta Bank provided staffing statistics in two
ways, by gender and by race.  Therefore it is impossible to
determine how many minority men and minority women are
represented at the Atlanta Bank.
     While the Atlanta Bank states that it actively recruits
minorities and women, its staffing statistics show that
minorities and women are underrepresented at the highest level
positions at the Atlanta Bank.  Specifically, of the top ten
paid employees at the Atlanta Bank there are no minorities and
one woman represented.  Of its highest ten percent paid
employees, 71.5% are men while 28.5% and 13.8% are women and
minorities, respectively.    Yet of the bank's lowest ten
percent, 51.2% are men, 48.8% are women and 68.2% are
minorities. 
(See attachments for a summary of Atlanta Bank staffing
statistics)
Cash Awards
     The breakdown of the Atlanta Bank's cash awards provides
no specific information on the number of recipients; only the
amounts of awards per grade.  In addition, the bank provided
no information on the dollar amount of awards to officers.  
     During 1992, $11,781 was awarded to men in grades 14-16,
$5,011 was awarded to women, and $2,600 was awarded to
minorities.  A similar breakdown shows that $20,044 was
awarded to men in grades 10-13, $7,577 was awarded to women
and $9,766 was awarded to minorities.
TAB L1
     Federal Reserve Bank of Atlanta
     Highest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |    172 |   71.4 |    173 |   71.5 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     69 |   28.6 |     69 |   28.5 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |     27 |   11.2 |     34 |   13.8 |
     +---------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |    111 |   46.1 |    124 |   51.2 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    130 |   53.9 |    118 |   48.8 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |    161 |   66.8 |    165 |   68.2 |
     +---------------+--------+--------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |   1070 |     42 |   1100 |   45.4 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |   1325 |     58 |   1322 |   54.6 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |   1007 |   44.7 |   1009 |   41.7 |
     +---------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                               Grades   Grades   Grades
                     Officers   14-16    10-13     5-9
     +---------------+--------+--------+--------+--------+
     |Total Men      |     60 |    147 |    347 |    546 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     17 |     68 |    309 |    928 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |      9 |     25 |    171 |    804 |
     +---------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those
     used by other government agencies. The following
     chart was compiled according to the converted
     data supplied by the Bank.
TAB M
               Federal Reserve Bank of Chicago
                       (Chicago Bank)
Organizational Structure
     The Vice President of Human Resources is the Equal
Employment Opportunity (EEO) Officer who reports to the Senior
Vice President of Support Services. This official reports to
the first vice president, who then reports to the president. 
     The staffing division of the Human Resources Service
Department is responsible for the development of the
district's affirmative action plan, as well as the monitoring
of results and progress toward the goals. The Board of
Directors of the Chicago and Detroit branches review and
approve the Affirmative Action Plan (AAP).  The Chicago Bank
reports that it establishes staffing goals annually,  the
results of which are monitored by the Chicago Bank's EEO
Officer. 
Equal Employment Opportunity
     According to the Chicago Bank, it participates in a
number of programs as part of its efforts to recruit, hire,
train, and retain qualified employees.  The Chicago Bank
visited 12 college campuses, participated in several career
fairs, advertised in various newspapers and minority
publications and hosted Chicago Bank receptions and
information sessions for outstanding college students.  In
addition, the Chicago Bank attended six minority career fairs
at college campuses around the country. As result of the
Chicago Bank's relationship with the Hispanic Alliance for
Career Enhancement (HACE), the Chicago Bank hired three new
employees.  Additionally, the Chicago Bank hired one minority
from Morehouse College in Atlanta as a result of previous
recruiting efforts.  The Chicago Bank states that there is a
potential to hire three full-time employees from its
internship program of 18 interns of which 66% are women and
33% are minorities.  The Chicago Bank fails to indicate the
types of positions that these new recruits will be hired to
fill. 
     The Chicago Bank's five-year review of critical EEO
categories charts the percentages of women and minorities in
officer and manager, professional, and technician positions. 
The Chicago Bank reports that representation of women at these
levels has fluctuated slightly from year to year and has
declined in all three levels since 1991.  Specifically, the
percent of women represented in the professional and technical
levels has decreased 2% and 8.9% respectively since 1988.  The
Chicago Bank acknowledges this decline and states that it
intends to monitor this trend and work with management to
identify opportunities to address this area.  Upon careful
review of the Chicago Bank's 1992 and 1993 goals for minority
and women in critical EEO categories, each goal equals the
Chicago Bank's actual minority and women representation for
1991 and 1992, except for the 1992 goal of women in
professional positions which is higher. While the Chicago Bank
states that its District goals are "aggressive," it appears
that the Chicago Bank set its 1992 and 1993 goals not to
increase women and minority representation but to simply
maintain the status quo. 
Staffing Statistics
     The Chicago Bank's ten highest paid employees are all
White males.  Of the Chicago Bank's highest ten percent paid
employees in 1992, 77.6% are men, of which 3.9% are minority
men, and 22.4% are women, of which 4.3% are minority women. 
Conversely, of the Chicago Bank's lowest ten percent paid
employees 32.7% are men, of which 23.3% are minority men, and
67% women, of which 37.1% are minority women. 
     While women and minorities represent over 57% and 26% of
the Chicago Bank's total staff, they account for only 27.6%
and 10.2% of those employees at the officer level and 29.6%
and 10.5% of those employees in grades 14-16, who are most
likely to be promoted to officer staff.  These numbers are
especially significant in light of the fact that the Chicago
Bank offers no information on specific initiatives under way
to increase these numbers. 
     (Please see attachments for a summary of Chicago Bank
staffing statistics) 
Cash Awards
     The Chicago Bank reported the number of recipients of
cash awards by pay grade. While these  numbers are generally
balanced, it is impossible to determine if disparities exist
in relation to the amounts awarded to employees in each
category.
TAB M1
     Federal Reserve Bank of Chicago
     Highest Ten Percent Paid Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |      9 |    3.5 |     11 |    4.3 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |     53 |   20.5 |     57 |   22.4 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |     14 |    5.5 |     10 |    3.9 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |    205 |   79.5 |    197 |   77.6 |
     +----------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |     96 |   37.2 |     94 |   37.1 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |    178 |     69 |    171 |   67.3 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |     53 |   20.5 |     59 |   23.2 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |     80 |     31 |     83 |   32.7 |
     +----------------+--------+--------+--------+--------+
     Total Bank Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |    695 |     27 |    677 |   26.7 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |   1503 |   58.3 |   1460 |   57.5 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |    370 |   14.4 |    363 |   14.3 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |   1078 |   41.8 |   1081 |   42.6 |
     +----------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                                Grades   Grades   Grades
                      Officers   14-16    10-13     1-9
     +----------------+--------+--------+--------+--------+
     |Minority Women  |      6 |     16 |     67 |    549 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |     27 |    120 |    330 |    944 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |      4 |     25 |     98 |    236 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |     75 |    268 |    335 |    403 |
     +----------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those
     used by other government agencies. The following
     chart was compiled according to the converted
     data supplied by the Bank.
TAB N
              Federal Reserve Bank of St. Louis
                      (St. Louis Bank)
Organizational Structure
     The St. Louis Bank's equal opportunity programs are
administered by the personnel department.  The Employment and
Employee Relations Manager functions as the St. Louis Bank's
Equal Employment Opportunity (EEO) Coordinator, while the Vice
President of Personnel is the District's EEO Officer.  
     The St. Louis Bank reports that its minority and women
hiring and advancement goals are developed by the affirmative
action officer who in turn discusses the proposed targets with
the St. Louis Bank's senior management staff.  The St. Louis
Bank's management committee is responsible for final approval
of these targets.   The goals set out in the Affirmative
Action Plan (AAP) are compared to actual St. Louis Bank
statistics on a monthly basis.
Equal Employment Opportunity
     In 1992, the St. Louis Bank reports that it recruited at
nine universities, including several with a predominately
minority student body for its management analyst program.  Of
the 108 candidates screened through campus recruiting, 26 were
invited for further interviews. Eleven of the 26 were
minorities and 10 were women.  Six offers were made, including
one to a minority and two to women. In addition, the St. Louis
Bank states that the management analyst program currently
includes 16 employees, of which 11 are women and three are
minorities.  Of these participants, four women have been
promoted to assistant manager, two women to supervisor, and
two to grade 11 analyst.  
     Although the St. Louis Bank provides information on its
recruiting efforts, it does not offer information on any
programs to identify and develop current St. Louis Bank
minority and women employees for officer, managerial and
professional positions.
Staffing Statistics
     It is evident from the St. Louis Bank's staffing
statistics that while minorities and women represent a
majority of the lower grade employees, they are significantly
underrepresented at the higher levels of the St. Louis Bank. 
For example, of the highest paid employees in 1992, 99 are
men, of which two are minority men, and 24 are women, of which
two are minority women. In addition, of the St. Louis Bank's
top ten highest paid employees, one minority is represented.
Conversely, of the St. Louis Bank's lowest ten percent paid
employees, 49 are men, of which 39 are minorities, and 74 are
women, of which 44 are minorities.
     Women and minorities represent only 18.5% and 3.7% of
those employees at the official level and 27.4% and 5.2% of
those employees in grades 14-16, who are most likely to be
promoted to official staff.  These numbers are particularly
disturbing in light of the St. Louis Bank's limited efforts in
promoting minorities and women to higher level Bank positions.
(See attachments for a summary of the St. Louis Bank staffing
statistics)
Cash Awards
     The St. Louis Bank provided data on the amount of awards
per grade as well as the number of recipients per grade.
     The data show that two men, one woman and no minorities
received cash awards in the officer grades and 53 men, of
which 2 are minorities, and 16 women, of which one is a
minority, received awards in grades 14-16. The average cash
award granted in the officer and 14-16 grades are $3,739 and
$774 respectively.  Of the number of award recipients in
grades 10-13, 98 are men, of which 29 are minorities and 90
are women, of which 12 are minorities. For award recipients in
grade 2-9, 129 are men, of which 62 are minorities, and 267
are women, of which 108 are minorities.  The average amount of
award per recipient in grades 10-13 and 2-9 are $443 and $187,
respectively.
TAB N1
     Federal Reserve Bank of St. Louis
     Highest Ten Percent Paid Employees
                          1991       1992
     +-----------------+---------+-----------+
     |Minority Women   |    2    |     2     |
     +-----------------+---------+-----------+
     |Total Women      |   19    |    24     |
     +-----------------+---------+-----------+
     |Minority Men     |    3    |     2     |
     +-----------------+---------+-----------+
     |Total Men        |   103   |    99     |
     +-----------------+---------+-----------+
     Lowest Ten Percent Paid Employees
                          1991       1992
     +-----------------+---------+-----------+
     |Minority Women   |   52    |    44     |
     +-----------------+---------+-----------+
     |Total Women      |   79    |    74     |
     +-----------------+---------+-----------+
     |Minority Men     |   36    |    39     |
     +-----------------+---------+-----------+
     |Total Men        |   43    |    49     |
     +-----------------+---------+-----------+
     Total Bank Employees
                            1991        1992
     +-----------------+---------+-----------+
     |Total Men        |     543 |       549 |
     +-----------------+---------+-----------+
     |Total Women      |     681 |       689 |
     +-----------------+---------+-----------+
     |Total Minority   |     362 |       357 |
     +-----------------+---------+-----------+
     1992 Employee Statistics*
                               Grades     Grades     Grades
                    Officers    14-16       10-13      2-9
+-----------------+---------+-----------+----------+--------+
|Total Men        |      44 |        98 |      168 |     239|
+-----------------+---------+-----------+----------+--------+
|Total Women      |      10 |        37 |      161 |     481|
+-----------------+---------+-----------+----------+--------+
|Total Minorities |       2 |         7 |       36 |     312|
+-----------------+---------+-----------+----------+--------+
     *Please note that the Federal Reserve Banks' pay plans
     and grades are not equivalent to those used by other
     government agencies.  The following chart was compiled
     according to the converted data supplied by the Bank.
TAB O
             Federal Reserve Bank of Minneapolis
                     (Minneapolis Bank) 
Organizational Structure
      The Minneapolis Bank's EEO Officer is an executive vice
president who reports directly to the president.  The EEO
Officer is responsible for directing the development of the
affirmative action programs and implementation efforts on a
Bankwide basis. The Minneapolis Bank states that its senior
management has primary responsibility for carrying out the
Minneapolis Bank's affirmative action goals. Annually, the EEO
Officer reviews the Minneapolis Bank's Affirmative Action Plan
(AAP) with senior vice presidents. It is the personnel
department's responsibility to monitor Bankwide performance in
relation to annual staffing objectives and to report the
results of affirmative action efforts to senior management.
Equal Opportunity Employment
     The Minneapolis Bank reports that it establishes
numerical goals for women and minorities.  The goal-setting
process is accomplished through a review by the EEO officers
and personnel department staff of the year-end analysis and
results relative to community work force data, based on the
1990 census.  Future hiring and promotional opportunities are
discussed formally through strategic planning meetings
conducted by personnel with all bank departments every other
year and informally in the interim.  Conspicuously absent from
the Minneapolis Bank's objectives for staff composition were
goals for minority and women representation at the official
staff level. In fact, no goals have been set for female
representation in any grade at the Minneapolis Bank. 
     The Minneapolis Bank notes that its EEO strategy has been
created to develop minorities and women from within the
organization to assume future leadership positions. It is
acknowledged that this approach may take time to produce
measurable results. Unfortunately, the Minneapolis Bank fails
to provide detailed information on any formal programs
established to identify and develop potential minority
employees for promotion.
     The Minneapolis Bank states that it participated in a
local career fair in a predominately minority neighborhood,
participated with other Reserve Banks in advertising in the
Black Collegian magazine, and continued to work with local
agencies for minority referrals during 1992. Additionally, the
Minneapolis Bank sponsored two summer interns from INROADS. 
Staffing Statistics
     The Minneapolis Bank's stated efforts to recruit and hire
minorities to official and professional positions have not
resulted in additional minority representation in the highest
levels of the Minneapolis Bank.  
     Of the Minneapolis Bank's top ten highest paid employees,
the Bank reports that there are no minorities and one woman
represented.  Of the Minneapolis Bank's highest ten percent
paid employees, 80 are men, of which one is a minority, and 36
women, of which two are minorities.  Of the Minneapolis Bank's
lowest ten percent paid employees, 9 are men, of which eight
are minorities, and 85 are women, of which seven are
minorities. In addition, while women and minorities constitute
65% and 9% of total bank employees, they represent only 20.4%
and 6.1% of employees at the official level.  While the bank's
percentage of women in the "pipeline" (grades 14-16) is
encouraging at 42.7%, the percentage (1.6%) of minorities in
these grades is wholly inadequate. 
(See attachments for a summary of Minneapolis Bank staffing
statistics)
Cash Awards
     The Minneapolis Bank provided a chart on the amounts
awarded to employees of each grade by race and gender. 
Therefore, it is impossible to determine how many individuals
received awards. 
     The total amount of awards granted to officers and
employees of grades 14-16 was $34,453, of which 14.5% and 8.7%
was awarded to women and minorities, respectively. 
TAB O1
     Federal Reserve Bank of Minneapolis
     Highest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |      2 |      2 |      2 |      2 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     38 |     32 |     38 |     32 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |      2 |      2 |      1 |      1 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |     78 |     67 |     81 |     68 |
     +---------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |      8 |    6.2 |      7 |      6 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     87 |   73.6 |     85 |     77 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |      5 |    3.9 |      8 |      7 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |     29 |   26.4 |     19 |     23 |
     +---------------+--------+--------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |     64 |      6 |     60 |      6 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    732 |     64 |    763 |     65 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     35 |      2 |     41 |      3 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |    376 |     35 |    431 |     36 |
     +---------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                               Grades   Grades   Grades
                     Officers   14-16    10-13     1-9
     +---------------+--------+--------+--------+--------+
     |Minority Women |      2 |      1 |     14 |     43 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     10 |     53 |    213 |    487 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |      1 |      1 |     12 |     27 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |     39 |     71 |    159 |    162 |
     +---------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those used
     by other government agencies.The following chart
     was compiled according to the converted data
     supplied by the Bank.
TAB P
             Federal Reserve Bank of Kansas City
                     (Kansas City Bank)

Organizational Structure
     The Senior Vice President in charge of the Administrative
Services Division at the Kansas City office is the Equal
Employment Opportunity (EEO) Officer and reports directly to
the first vice president.  The EEO Officer is responsible for
achieving the affirmative action staffing goals.  The
Assistant Vice President in charge of Employee Development is
responsible for coordinating the Kansas City Bank's
participation in affirmative action programs and for
monitoring the District's progress in achieving affirmative
action goals.  
Equal Employment Opportunity
     During 1991, the Kansas City Bank states that its
affirmative action efforts focused on recruiting, training and
development, and community involvement.  The Kansas City
Bank's efforts to recruit minorities included 12 visits to six
minority schools in 1991, of which three are located outside
the tenth Federal Reserve District.  In 1992, the Kansas City
Bank made 25 recruiting trips to 17 universities that are
considered either minority schools or have high minority
populations.  During these visits, the Kansas City Bank states
that relationships were reaffirmed or established with faculty
members and minority student groups. In addition, the Kansas
City Bank participated in employment/career fairs and
workshops sponsored for the benefit of minority students at
both minority and non-minority schools.  The Kansas City Bank
reported that its aggressive recruiting practices have greatly
increased the numbers of minorities brought into the
Management Development Program, adding 16 minority employees
in 1992 compared to an average of five employees each year
during the last five years.   
     
Staffing Statistics
     Although the Kansas City Bank has initiated new efforts
to recruit minorities and has provided details on the hiring
of minorities as a result of these initiatives, the Kansas
City Bank's minority representation at the highest level of
the bank is sorely lacking.  Of the Kansas City Bank's top ten
paid employees in 1992, no minorities and no women are
represented.  In addition, of the highest ten percent paid
employees in 1992, 126 are men, 37 are women and 2 are
minorities.  Conversely, of the Kansas City Bank's lowest paid
employees, 51 are men, 112 are women and 66 are minorities. 
While women and minorities represent 57% and 20% of total
Kansas City Bank employees respectively, women and minorities
represent only 18% and 0% of those employees at the official
level.  The low percentage (3.4%) of minorities in grades 14-
16, which is generally the pool from which official staff are
selected, is one possibility for the absence of minority
representation at the official level.
(See attachments for a summary of Kansas City Bank staffing
statistics)

Cash Awards
     The Kansas City Bank provided data on the amount of
awards and the number of employees to whom awards were
granted.   The Kansas City Bank awarded $140,855 in cash
awards in 1992. While women and minorities received 43.8% and
16.7% of the total awards granted, of the $44,475 awarded to
officers and employees of grades 14-16, only 22.6% went to
women and 1.2% went to minorities. 
TAB P1
     Federal Reserve Bank of Kansas City
     Highest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |    129 |     80 |    126 |     77 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     32 |     20 |     37 |     23 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |      1 |      1 |      2 |      1 |
     +---------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |     46 |     29 |     51 |     31 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    115 |     71 |    112 |     69 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |     66 |     41 |     66 |     40 |
     +---------------+--------+--------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Total Men      |    692 |     43 |    701 |     43 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |    918 |     57 |    930 |     57 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |    303 |     19 |    320 |     20 |
     +---------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                               Grades   Grades   Grades
                     Officers   14-16    10-13     1-9
     +---------------+--------+--------+--------+--------+
     |Total Men      |     48 |    111 |    259 |    283 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     10 |     42 |    223 |    655 |
     +---------------+--------+--------+--------+--------+
     |Total Minority |      1 |      5 |     46 |    268 |
     +---------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plans and grades are not equivalent to those used
     by other government agencies.  The following chart
     was compiled according to the converted data
     data supplied by the Bank.
TAB Q
               Federal Reserve Bank of Dallas
                        (Dallas Bank)
Organizational Structure
     The Dallas Bank has designated one senior official as the
Dallas Bank's EEO Officer.  The current EEO Officer is a vice
president who reports directly in that capacity to the Dallas
Bank's president and first vice president.  The EEO Officer is
assisted by four Deputy EEO Officers (one at each of the
Dallas Bank's four offices.)  Annually, the Dallas Bank's
equal employment opportunity goals are established and
measured.  These goals are set for two-year periods and are
determined by using data from the 1980 census and updated
information from the Primary Metropolitan Survey Area issued
by the Texas Employment Commission for each labor market in
which the Dallas Bank operates.  
Equal Employment Opportunity
     The Dallas Bank states that it maintains contacts with
community organizations in which minorities and the disabled
are substantially represented, such as the Urban League Texas
Employment Commission, Minority Chamber of Commerce, Minority
Human Resources Association and vocational office education
programs of local public school districts.  The recruiting
staff represented the Dallas Bank at minority job fairs
sponsored by a radio station and the Black State Employees
Association of Texas, Inc. The Dallas Bank also states that it
maintains contacts with area colleges and universities where
minority students and women are represented in substantial
numbers.  The Dallas Bank does not provide any information on
the success of these efforts in recruiting and hiring
minorities and women to upper-level Bank positions.  
     The Dallas Bank makes no mention of any programs designed
to identify and train minority and women employees for
potential promotions to official, managerial, and professional
positions.
Staffing Statistics
     The Dallas Bank's employee statistics show significant
underrepresentation of minorities and women in higher-level
Bank positions.  Of the top ten paid employees at the Dallas
Bank, no minorities or women are represented.  Of the highest
ten percent paid employees in 1992, 27 are women, of which 5
are minorities, and 134 are men, of which 11 are minorities. 
Conversely, of the lowest ten percent paid employees, 84 are
women, of which 56 are minorities, and 79 are men, of which 53
are minorities.  
     Additionally, while women and minorities make up 54.1%
and 27% of total Dallas Bank employees, women and minorities
represent only 15.5% and 12% of the employees represented at
the official level and only 22.9% and 12.1% of those employees
in the "pipeline" (grades 14-16) to official staff.  
(See attachments for a summary of Dallas Bank staffing
statistics)
Cash Awards
     The Dallas Bank provided data on the number of employees
receiving cash awards in each pay grade by gender and race,
but did not include the amounts of awards issued to these
employees.  Therefore, while the data on the number of
individuals awarded cash awards are generally balanced, it is
impossible to determine whether the amounts of cash awards
would illustrate any disparity.
TAB Q1
     Federal Reserve Bank of Dallas
     Highest Ten Percent Paid Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |      5 |    3.1 |      5 |    3.1 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |     25 |   15.4 |     27 |   16.8 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |     10 |    6.2 |     11 |    6.9 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |    136 |     84 |    134 |   83.2 |
     +----------------+--------+--------+--------+--------+
     Lowest Ten Percent Paid Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |     66 |   40.8 |     56 |   34.3 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |     95 |   58.7 |     84 |   51.5 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |     50 |   30.9 |     53 |   32.5 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |     68 |     42 |     79 |   48.5 |
     +----------------+--------+--------+--------+--------+
     Total Bank Employees
                        1991              1992
                       Number   Percent  Number   Percent
     +----------------+--------+--------+--------+--------+
     |Minority Women  |    464 |   19.3 |    461 |     19 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |    911 |   54.5 |    904 |   54.1 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |    270 |   11.2 |    292 |     12 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |    762 |   45.5 |    767 |   45.9 |
     +----------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                                Grades   Grades   Grades
                      Officers   14-16    10-13     2-9
     +----------------+--------+--------+--------+--------+
     |Minority Women  |      2 |      7 |     64 |    388 |
     +----------------+--------+--------+--------+--------+
     |Total Women     |      9 |     47 |    224 |    624 |
     +----------------+--------+--------+--------+--------+
     |                |        |        |        |        |
     +----------------+--------+--------+--------+--------+
     |Minority Men    |      5 |     18 |     50 |    219 |
     +----------------+--------+--------+--------+--------+
     |Total Men       |     49 |    158 |    198 |    362 |
     +----------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Bank's pay
     plans and grades are not equivalent to those used by
     other government agencies. The following chart was
     compiled according to the converted data supplied
     by the Bank.
TAB R
            Federal Reserve Bank of San Francisco
                    (San Francisco Bank)
Organizational Structure
     The San Francisco Bank's vice president of corporate
personnel is the District's Equal Employment Opportunity (EEO)
officer who reports to the senior vice president of
administration, who then reports to the first vice president
and president of the San Francisco Bank. 
      
Equal Employment Opportunity
     The 1993 affirmative action planning process by the San
Francisco Bank included an analysis of the present San
Francisco Bank work force and setting specific, measurable
hiring and promotional goals in areas of underrepresentation
to be achieved by January 1, 1993. It also includes updating
existing developmental plans and establishing new plans for
key female and minority employees, creating a reporting
structure to regularly monitor and measure progress and
implementing a longer-term strategic plan. In 1992, the San
Francisco Bank for the first time included long-range EEO
planning for 1992-1995.  Projections for minorities and women
representation for the officer and 14-16 grade levels (feeder
group for the Officer and Senior Level Manager positions and
11-13 (entry-level Supervisor and Professional level) are
established by Division/Branch Management. As part of the AAP,
each Division/Branch is provided with a Utilization Analysis
Report indicating the representation of females and specific
minorities in certain grades.  Departments use this
information, together with turnover and historical promotional
data, to project representation achieved through hiring and
promotions for the current year.  At mid-year and at year-end,
departments are provided with progress reports that compare
actual representation with projected representation.  
     The San Francisco Bank states that it is currently
experiencing a lack of strong minority candidates in the 14-16
grade pipeline, due to difficulty identifying and hiring
minority candidates from outside the San Francisco Bank,
especially from the Black community.  The San Francisco Bank
is in strong competition for these individuals with several
large, local employers.  According to the San Francisco Bank
"these companies have better `street reputations' than the Fed
in terms of mentoring and promoting Black employees."  While
it is encouraging that the San Francisco Bank acknowledges
this as a problem, it is disturbing that the San Francisco
Bank provides no specific information on any initiatives under
way to change this "street reputation."  Additionally, the San
Francisco Bank does not expect minority representation in some
groups to increase at all in 1993.  According to the San
Francisco Bank, this is due to a number of factors including
the state of the economy and high unemployment, especially in
California, which results in low turnover, downsizing and
centralization activities.  
     While the San Francisco Bank participates in a large
number of community programs, including involvement in both
the National Association of Urban San Francisco Bankers and
its San Francisco chapter, the Bay Area Urban San Francisco
Bankers Association (BAUBA), Alumnae Resource Group (Women's
Group) and local college, university and community job fairs,
the San Francisco Bank offers no information on the success of
these efforts in recruiting minorities and women to higher-
level San Francisco Bank positions. 
     
Staffing Statistics
     Of the highest ten percent paid employees in 1992, 69 are
women while 172 are men. Of those 69 women, 18 are minorities,
while of the 172 men, 33 are minorities.  In addition, no
minorities and only one woman was represented among the top
ten paid employees. Conversely, of the lowest ten percent paid
employees in 1992, 127 are women, of which 78 are minorities,
and 144 are men, of which 62 are minorities.  In addition,
while women and minorities constitute 52% and 29% of the total
number of bank employees respectively, they only constitute
25% and 15% of those employees at the official level.  
(See attachments for a summary of San Francisco Bank staffing
statistics)
Cash Awards and Incentive Bonus Programs
     The San Francisco Bank provided data on the number of
employees receiving cash awards, but did not include the
amounts of awards issued to these employees.  Therefore, while
the data on the number of individuals awarded cash awards are
generally balanced between grades, it is impossible to
determine whether the amounts of cash awards would illustrate
any disparity.
TAB R1
     Federal Reserve Bank of San Francisco
     Highest Ten Percent Paid Employees
                       1991     1992
                      Number  Number
     +---------------+--------+--------+
     |Minority Women |     17 |     18 |
     +---------------+--------+--------+
     |Total Women    |     67 |     69 |
     +---------------+--------+--------+
     |               |        |        |
     +---------------+--------+--------+
     |Minority Men   |     36 |     33 |
     +---------------+--------+--------+
     |Total Men      |    187 |    172 |
     +---------------+--------+--------+
     Lowest Ten Percent Paid Employees
                       1991     1992
                      Number   Number
     +---------------+--------+--------+
     |Minority Women |     78 |     78 |
     +---------------+--------+--------+
     |Total Women    |    122 |    127 |
     +---------------+--------+--------+
     |               |        |        |
     +---------------+--------+--------+
     |Minority Men   |     81 |     62 |
     +---------------+--------+--------+
     |Total Men      |    132 |    144 |
     +---------------+--------+--------+
     Total Bank Employees
                       1991              1992
                      Number   Percent  Number   Percent
     +---------------+--------+--------+--------+--------+
     |Minority Women |    759 |     30 |    702 |     29 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |   1328 |     52 |   1244 |     52 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |    541 |     21 |    520 |     21 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |   1213 |     48 |   1161 |     48 |
     +---------------+--------+--------+--------+--------+
     1992 Employee Statistics*
                               Grades   Grades   Grades
                     Officers   14-16    10-13       2-9
     +---------------+--------+--------+--------+--------+
     |Minority Women |      3 |     16 |    101 |    582 |
     +---------------+--------+--------+--------+--------+
     |Total Women    |     24 |     64 |    272 |    884 |
     +---------------+--------+--------+--------+--------+
     |               |        |        |        |        |
     +---------------+--------+--------+--------+--------+
     |Minority Men   |     12 |     26 |    109 |    373 |
     +---------------+--------+--------+--------+--------+
     |Total Men      |     72 |    124 |    329 |    636 |
     +---------------+--------+--------+--------+--------+
     *Please note that the Federal Reserve Banks' pay
     plan and grades are not equivalent to those used
     by other government agencies.  The following chart
     was compiled according to the converted data
     by the Bank.
 

TRAITOR McCain

jewn McCain

ASSASSIN of JFK, Patton, many other Whites

killed 264 MILLION Christians in WWII

killed 64 million Christians in Russia

holocaust denier extraordinaire--denying the Armenian holocaust

millions dead in the Middle East

tens of millions of dead Christians

LOST $1.2 TRILLION in Pentagon
spearheaded torture & sodomy of all non-jews
millions dead in Iraq

42 dead, mass murderer Goldman LOVED by jews

serial killer of 13 Christians

the REAL terrorists--not a single one is an Arab

serial killers are all jews

framed Christians for anti-semitism, got caught
left 350 firemen behind to die in WTC

legally insane debarred lawyer CENSORED free speech

mother of all fnazis, certified mentally ill

10,000 Whites DEAD from one jew LIE

moser HATED by jews: he followed the law

f.ck Jesus--from a "news" person!!

1000 fold the child of perdition

 

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