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Organizational culture: One central bank lawyer’s perspective

Organizational culture: One central bank lawyer’s perspective

by Michael Held

General Counsel and Executive Vice President of the Legal Group, Federal Reserve Bank of New York

May 16, 2021

Compendium

It is an honor to join the regulators, academics, and market participants contributing to this edition of Starling’s Compendium. My colleagues and I at the New York Fed have learned much from our conversations with many of these contributors, and I look forward to reading this year’s essays.

About seven years ago, the New York Fed decided to use its position, influence, and credibility to “shine a spotlight” on the issue of culture. We wanted to persuade the financial services industry to pay greater attention to the group norms that affect individual behavior and to use all available tools to strengthen norms that contribute to public confidence in finance. 

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