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      - Strategic Plan, Performance Plan, and Performance Report
      - Mission
      - Goals and Objectives

# The Board of Governors and the Government Performance and Results Act        

The Government Performance and Results Act (GPRA) of      1993 requires that federal agencies, in consultation with Congress and      outside stakeholders, prepare a strategic plan covering a multiyear      period and submit an annual performance plan and performance report.      Although the Federal Reserve is not covered by the GPRA, the Board of      Governors voluntarily complies with the spirit of the act.

##       Strategic Plan, Performance Plan, and Performance Report 

The Board's strategic plan articulates the Board's mission,      sets forth major goals, outlines strategies for achieving those goals,      and discusses the environment and other factors that could affect their      achievement. It also addresses issues that cross agency jurisdictional      lines, identifies key quantitative performance measures, and discusses      performance evaluation. The most recent strategic plan covers the      period 2006-09.

Both the performance plan and the performance report are prepared      biennially. The performance plan sets forth specific targets for some      of the performance measures identified in the strategic plan and      describes the operational processes and resources needed to meet those      targets. It also discusses data validation and results verification.      The most recent performance plan covers the period 2006-07.

The performance report discusses the Board's performance in      relation to its goals. The most recent performance report indicates      that the Board generally met its goals for 2004-05.

All of the aforementioned documents are available on the Board's      web site,            at www.federalreserve.gov/boarddocs/rptcongress. The      Board's mission statement and a summary of the Federal Reserve's      goals and objectives, as set forth in the most recently released      strategic and performance plans, are listed below.

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##       Mission 

The mission of the Board is to foster the stability, integrity,      and efficiency of the nation's monetary, financial, and payment      systems so as to promote optimal macroeconomic performance.

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##       Goals and Objectives 

The Federal Reserve has six primary goals with interrelated and      mutually reinforcing elements.

### Goal 

To conduct monetary policy that promotes the achievement of      maximum sustainable long-term growth and the price stability that      fosters that goal

#### Objectives 

      -  Stay abreast of recent developments and prospects in the        U.S. economy and financial markets, and in those abroad, so that        monetary policy decisions will be well informed. 
      -  Enhance our knowledge of the structural and behavioral        relationships in the macroeconomic and financial markets, and improve        the quality of the data used to gauge economic performance, through        developmental research activities.
      -  Implement monetary policy effectively in rapidly        changing economic circumstances and in an evolving financial market        structure.
      -  Contribute to the development of U.S. international        policies and procedures, in cooperation with the U.S. Department of the        Treasury and other agencies.
      -  Promote understanding of Federal Reserve policy among        other government policy officials and the general public. 

### Goal 

To promote a safe, sound, competitive, and accessible banking      system and stable financial markets

#### Objectives 

      -  Promote overall financial stability, manage and contain        systemic risk, and identify emerging financial problems early so that        crises can be averted.
      -  Provide a safe, sound, competitive, and accessible        banking system through comprehensive and effective supervision of U.S.        banks, bank and financial holding companies, foreign banking        organizations, and related entities. At the same time, remain sensitive        to the burden on supervised institutions.
      -  Provide a dynamic work environment that is challenging        and rewarding. Enhance efficiency and effectiveness, while remaining        sensitive to the burden on supervised institutions, by addressing the        supervision function's procedures, technology, resource allocation,        and staffing issues.
      -  Promote compliance by domestic and foreign banking        organizations supervised by the Federal Reserve with applicable laws,        rules, regulations, policies, and guidelines through a comprehensive        and effective supervision program. 

### Goal 

To effectively implement federal laws designed to inform and      protect the consumer, to encourage community development, and to      promote access to banking services in historically underserved markets

#### Objectives 

      -  Take a leadership role in shaping the national dialogue        on consumer protection in financial services, addressing the rapidly        emerging issues that affect today's consumers, strengthening consumer        compliance supervision programs when required, and remaining sensitive        to the burden on supervised institutions.
      -  Promote, develop, and strengthen effective        communications and collaborations within the Board, the Federal Reserve        Banks, and other agencies and organizations.
      -  Increase public understanding of consumer protection and        community development and the Board's role in these areas through        increased outreach and by developing programs that address the        information needs of consumers and the financial services industry.
      -  Develop a staff that is highly skilled,        professional, innovative, and diverse, providing career development        opportunities to ensure the retention                of highly productive        staff and recruiting highly qualified and skilled employees.
      -  Promote an efficient and effective work environment by        aligning business functions with appropriate work processes and        implementing solutions for work products and processes that can be        handled more efficiently through automation. 

### Goal 

To foster the integrity, efficiency, and accessibility of U.S.      payment and settlement systems

#### Objectives 

      -  Develop sound, effective policies and regulations that        foster payment system integrity, efficiency, and accessibility. Support        and assist the Board in overseeing U.S. dollar payment and securities        settlement systems by assessing their risks and risk management        approaches against relevant policy objectives and standards.
      -  Conduct research and analysis that contributes to policy        development and increases the Board's and others' understanding of        payment system dynamics and risk. 

### Goal 

To provide high-quality professional oversight of Reserve Banks

#### Objective 

      -  Produce high-quality assessments and oversight of        Federal Reserve System strategies, projects, and operations, including        adoption of technology to the business and operational needs of the        Federal Reserve. The oversight process and outputs should help Federal        Reserve management foster and strengthen sound internal control        systems, efficient and reliable operations, effective performance, and        sound project management and should assist the Board in the effective        discharge of its oversight responsibilities. 

### Goal 

To foster the integrity, efficiency, and effectiveness of Board      programs

#### Objectives 

      -  Oversee a planning and budget process that clearly        identifies the Board's mission, results in concise plans for the        effective accomplishment of operations, transmits to the staff the        information needed to attain objectives efficiently, and allows the        public to measure our accomplishments.
      -  Develop appropriate policies, oversight mechanisms, and        measurement criteria to ensure that the recruiting, training, and        retention of staff meet Board needs.
      -  Establish, encourage, and enforce a climate of fair and        equitable treatment for all employees regardless of race, creed, color,        national origin, age, or sex.
      -  Provide financial management support needed for sound        business decisions.
      -  Provide cost-effective and secure information        resource management services to Board divisions, support divisional        distributed-processing requirements, and provide analysis on        information technology issues to the Board, Reserve Banks, other        financial regulatory institutions, and central banks.
      -  Efficiently provide safe, modern, and secure facilities        and necessary support for activities conducive to efficient and        effective Board operations. 

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