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Note: Board of Governors Releases 2024 Financial Statements

On Friday, March 21, 2025, the Board of Governors released the 2024 Financial Statements for the Federal Reserve Banks and the Board of Governors. You can find the 2024 statements on the Board’s website.

The Lehigh River in Bethlehem, Pennsylvania

Annual Report

2022 Annual Report

22 May ’23

In our 2022 Annual Report, Philadelphia Fed President Patrick T. Harker and First Vice President James D. Narron share their thoughts on our mission of service. You can also learn more about our key initiatives that support a strong and inclusive economy.

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Patrick Harker
Letter from President Patrick T. Harker

“Better Together” was a key theme in 2022, as opportunities for in-person connections strengthened how we work together in the Bank and serve our communities within the Third District.

James Narron
Letter from First Vice President James D. Narron

Leading with our values ensures we are on a path to success, especially when challenges arise. In 2022, key advances in our work supported a diverse and inclusive Bank culture.

A man rides a bike down a city street along a block of brick townhouses.
Q&A: Larry Santucci on Philadelphia’s Racially Restrictive Covenants and Their Lasting Effects

In 2022, we launched an interactive map that explores the use of racial covenants in Philadelphia. Larry Santucci of our Consumer Finance Institute discussed why examining these historical barriers to homeownership is important.

A view of Cornell University's campus.
What Is the Anchor Economy Initiative?

A new digital tool introduced in 2022 explores the economic impact of “eds and meds” in 524 U.S. regions. President Patrick Harker and Anchor Economy Initiative Director Deborah Diamond discuss the impact of anchor institutions on regional economies in this video.

A woman shows an IT apprentice how to do something on his computer. Another apprentice worked in the background.
Investing in Skills: How Apprenticeships Are Growing

As part of our commitment to expanding career pathways, we initiated a new state-certified apprenticeship program to connect local workers with skills and experience for a career in information technology.

An associate at a retail clothing shop folds a weather while wearing a mask.
Q&A: Tom Akana on the COVID-19 Survey and Assessing Consumer Well-Being

After two years of tracking consumer well-being during the pandemic, our Consumer Finance Institute published key data sets derived from the survey to allow researchers to continue to learn from this historic event.

Meet Our Leadership, Board, and Councils

We rely on the talents and abilities of our employees and senior leaders as well as the expertise of our board of directors and advisory councils, whose insight and guidance help us carry out our mission of service to the Third District and the nation. 

  • Board of Directors
  • Community Depository Institutions Advisory Council
  • Economic and Community Advisory Council
  • Management Committee
  • Additional Bank Officers

Illustrated map of the Third Federal Reserve District.

Financial Statements

Read the audited annual financial statements of the Federal Reserve Bank of Philadelphia as of and for the years ended December 31, 2022, and December 31, 2021, as well as the Board of Governors’ Statement of Auditor Independence here.

Marriner S. Eccles Federal Reserve Board Building

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Pictured in cover image: The Lehigh River in Bethlehem, Pennsylvania

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