Christine M. Cumming

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Christine Cumming
ChristineCumming.jpg
Occupation First Vice President
Employer Federal Reserve Bank of New York
Location New York, NY

Christine Cumming is the first vice president of the Federal Reserve Bank of New York. She is the second ranking officer in the Bank, and serves as the Bank's chief operating officer as well as an alternate voting member of the Federal Open Market Committee.

The New York Fed said in October 2014 that Cumming would step down from the position in June 2015, after a 35-year career at the bank.[1]

Background

Before being named to her current position at the Bank, Cumming was executive vice president and director of research with responsibility for the Research and Market Analysis Group. She assumed these responsibilities in September 1999.

From March 1994 until September 1999, she was senior vice president responsible for the Bank Analysis and Advisory and Technical Services Functions in the Bank Supervision Group.

Cumming joined the Bank's staff in September 1979 as an economist in the International Research Department, and spent several years leading units in Research which covered the industrial countries and the international financial markets. Later, while in the Bank’s International Capital Markets staff, she worked on topics such as the liquidity of banks and securities firms, the international competitiveness of U.S. financial institutions, and the implications of financial innovation.

In January 1992, she was appointed vice president and assigned to Domestic Bank Examinations in Bank Supervision. A major focus of Cumming’s work in Supervision involved capital markets issues. While in Supervision, she also was active in the work of the Basel Committee, including participating in the development of the market risk amendment to the Basel Accord and co-chairing the Risk Management Group for two and a half years. She also chaired task forces on supervisory matters for the Joint Forum, made up of banking, securities and insurance regulators.

Education

Cumming holds both a B.S. and a Ph.D. in Economics from the University of Minnesota. [2]

References

  1. New York Federal Reserve's No. 2 official to step down next year. Reuters.
  2. About The Fed. Federal Reserve Bank of New York.