Gaffney’s appointment was approved by the Bank’s board of directors after consultation with the Board of Governors of the Federal Reserve System. Gaffney previously served as a vice president in SRC with responsibility for the department’s statistics, credit, reserves, support, budget and planning functions. Gaffney has been at the Bank since 2001, where she began as a consumer examiner. During that period, she spent one year at the Board of Governors and four years as key support for the System’s examiner training efforts. She then managed SRC’s quality assurance function before becoming an assistant vice president and then vice president over her current areas of responsibility.
“Christine Gaffney has an extensive record of accomplishment across a wide range of Federal Reserve responsibilities,” said President Neel Kashkari. “That record, combined with her deep knowledge of the Ninth District, positions the Federal Reserve Bank of Minneapolis to build on its history of operational excellence and thought leadership.”
Gaffney is replacing Ron Feldman, who became first vice president of the Bank in April 2017.
The Federal Reserve Bank of Minneapolis is one of 12 regional Reserve Banks that, with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the nation’s central bank. The Federal Reserve Bank of Minneapolis is responsible for the Ninth Federal Reserve District, which includes Montana, North and South Dakota, Minnesota, northwestern Wisconsin and the Upper Peninsula of Michigan. The Federal Reserve Bank of Minneapolis participates in setting national monetary policy, supervises numerous banking organizations, and provides a variety of payments services to financial institutions and the U.S. government.