Archive for November 28th, 2024

100 years of NY Fed at Liberty Street: Understanding changes in technology

November 28, 2024

New York Federal Reserve has completed 110 years of its existence (basically entire Federal Reserve System) and 100 years at its Liberty

John Williams , President of NY Fed reflects in this speech:

It’s wonderful to see so many of our alumni joining us today as we celebrate the 110th anniversary of the New York Fed—and the centennial of our Liberty Street home.

Buildings tell stories. And this unique building—made of sandstone and limestone, with vaulted ceilings and a gold vault in the basement—has much to say about where we’ve been, where we are, and where we’re going.

It stood as a beacon of strength during crises: Black Thursday, Black Monday, 9/11, the Global Financial Crisis, and the COVID-19 pandemic. And it’s witnessed remarkable change—in the global economy and financial markets, in technology and the ways we work, and, as you see in the photos, in hair styles and office attire.

But just as 33 Liberty Street kept its distinctive stone exterior as glass skyscrapers grew around it, our dedication to the mission of serving the American public has remained constant.

And throughout our history, our ability to be at the forefront of anticipating, adapting, and acting in a fast-changing world has helped us ensure the strength of the U.S. economy and the stability of the global financial system.

Tracking tech changes over 100 years:

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The Swiss repo market at 25 – a success story for the financial centre and the Swiss National Bank

November 28, 2024

I wrote this piece in Financial Express on 25 years of Humble Repo in India.

Humble Repo completes 25 years in Switzerland too! Petra Tschudin and Thomas Moser of SNB in this speech:

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Humpty Dumpty and Indian Business

November 28, 2024

As one is watching the comedies and tragedies unfold in the India business story, one nursery rhyme comes to mind:

Humpty Dumpty sat on a wall.
Humpty Dumpty had a great fall.
All the king’s horses and all the king’s men
Couldn’t put Humpty together again.

Who could have imagined, that a nursery rhyme written in 1882 will go onto explain state of business in India in 2024!


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