Representatives of the US Federal Reserve Visiting the CBBH 3/29/2017 Tweet March 29, 2017 Representatives of the Federal Reserve (FED) from New York, visited, on 29 March 2017, the Central Bank of Bosnia and Herzegovina (CBBH), where they met with CBBH Governor Senad Softić, Ph.D. and his associates and discussed the possibility of establishing correspondent relations and the cooperation with the FED. Given the fact that the Federal Reserve Bank of New York, on behalf of the Federal Reserve System of the USA, provides banking and other services to other global central banks, governments and international official institutions (approximately 200 entities), the CBBH requested from the FED in New York the establishment of correspondent relations and use of services, provided by FED. Considering the fact that the CBBH, in accordance with the Law on CBBH, operates based on the Currency Board arrangement and that the local currency is pegged to euro, there is Law defined limit on the amount of funds that may be held in other non-euro currencies. However, the CBBH is interested to examine the possibility of investing in securities of the United States through the Federal Reserve, which was discussed during the meeting.
