Federal Reserve Bank of Atlanta

Atlanta, United States

The Federal Reserve Bank of Atlanta provides economic analysis and data, as well as a range of financial services, including those related to monetary policy and banking supervision, to support the financial stability and economic well-being of the southeastern United States.

CCI Score

-40.91

0.02% April 18

Latest Event

Investigation Reveals Trading Violations and Conflict of Interest at FRB Atlanta

An independent investigation report dated September 4, 2024, detailed multiple violations in the trading practices of FRB Atlanta President Dr. Raphael Bostic. The report documents breaches of the FOMC blackout rule, failures to accurately disclose securities transactions, prohibited holdings, and discrepancies in the trading preclearance process, thereby creating an appearance of conflict of interest and undermining public trust.

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TOADIE

Federal Reserve Bank of Atlanta is currently rated as a Toadie.

-30 to -44 CCI Score

Companies scoring in this range actively seek to please authoritarian regimes. They offer proactive support and assistance in exchange for preferential treatment, compromising ethical standards for business gains and political favor.

Latest Events

SEP

04

2024

Investigation Reveals Trading Violations and Conflict of Interest at FRB Atlanta
-67.50

An independent investigation report dated September 4, 2024, detailed multiple violations in the trading practices of FRB Atlanta President Dr. Raphael Bostic. The report documents breaches of the FOMC blackout rule, failures to accurately disclose securities transactions, prohibited holdings, and discrepancies in the trading preclearance process, thereby creating an appearance of conflict of interest and undermining public trust.
-65

Public and Political Behavior

April 2

The report highlights that the president’s actions created the appearance of acting on nonpublic FOMC information and conflicts of interest. Such breaches undermine the integrity expected of a central banking institution and diminish public accountability.

PDF Report of Investigation
-80

Business Practices and Ethical Responsibility

April 2

The investigation reveals systemic failures in ethical business practices, including inaccurate reporting of securities transactions, non-compliance with disclosure and prohibited holdings policies, and errors in the preclearance process. This reflects significant lapses in accountability and transparency within the institution.

PDF Report of Investigation
OCT

17

2022

Atlanta Fed Chief Ethics Violations Disclosed
-34.67

Federal Reserve Bank of Atlanta President Raphael Bostic disclosed that he had executed numerous financial transactions—including trades during blackout periods and exceeding holding limits—that breached internal trading restrictions. The incident has sparked concerns over transparency and ethical business practices within the institution, with mixed responses from board members and critics like Sen. Elizabeth Warren.
-40

Public and Political Behavior

April 2

The undisclosed financial transactions initiated during sensitive policy periods by Fed President Bostic have undermined public trust and raised questions about the adherence to ethical standards expected of a public official within a central bank.

Atlanta Fed chief discloses violations, reigniting ethics scandal
-50

Business Practices and Ethical Responsibility

April 2

The incident reveals significant lapses in ethical business practices at the Atlanta Fed, with multiple undisclosed trades and breaches of internal trading protocols. This failure undermines the institution's commitment to transparency and accountability.

Atlanta Fed chief discloses violations, reigniting ethics scandal
OCT

14

2022

Atlanta Fed Chief Admits Ethics Violations
-29.34

Atlanta Fed President Raphael Bostic admitted to violations of Federal Reserve ethics rules by engaging in disallowed financial transactions during blackout periods and exceeding permitted holdings in U.S. government debt. The incident has prompted Fed Chair Jerome Powell to request an inspector-general review, raising concerns about transparency and accountability at the institution.
-40

Public and Political Behavior

April 2

The admission by a top Fed official of conflict-of-interest violations undermines public trust in the governance of monetary policy and erodes democratic accountability. This unethical behavior in a politically sensitive institution adds to concerns about transparency and accountability in public institutions.

Atlanta Fed chief admits violations to Fed ethics rules - POLITICO
-35

Business Practices and Ethical Responsibility

April 2

Bostic’s failure to adhere to internal financial disclosure standards, including unauthorized transactions during blackout periods and exceeding permissible U.S. government debt holdings, reflects poor business practices and ethical responsibility. These lapses compromise internal controls and erode the institution's credibility.

Atlanta Fed chief admits violations to Fed ethics rules - POLITICO
OCT

01

2022

Ethics Breach by Atlanta Fed Official
-42.27

An investigation revealed that Atlanta Fed President Raphael Bostic's financial trades violated internal ethics rules in 2022, prompting a revision of his financial disclosures. The breach, while not constituting insider trading, has raised concerns over transparency and accountability within the institution.
-50

Public and Political Behavior

April 2

The breach by a high-ranking official of the Atlanta Fed erodes public trust and highlights issues in maintaining transparency in public institutions. This incident undermines confidence in the regulatory oversight intended to protect the public interest.

Atlanta Fed official broke ethics rules but didn't violate insider trading laws
-60

Business Practices and Ethical Responsibility

April 2

The incident reflects a failure in adhering to robust ethical standards within the institution. The official's admission to the breach and subsequent need to revise disclosures indicate significant internal oversight shortcomings, compromising the integrity of the institution's business practices.

Atlanta Fed official broke ethics rules but didn't violate insider trading laws
SEP

04

2022

Atlanta Fed President's Trading Rule Violation
-30.77

A government watchdog report found that Atlanta Fed President Raphael Bostic breached central bank trading rules in 2022 by failing to manage his investment disclosures in line with Fed policies, creating an appearance of impropriety while serving as a key FOMC member.
-40

Executive Political Engagement

April 2

Raphael Bostic, as a central bank president and FOMC member, is held to a high ethical standard. The report’s findings that he violated trading rules and created an appearance of using confidential information undermines public trust and jeopardizes the impartiality required in monetary policy decisions. This lapse in executive conduct discourages transparency and may weaken safeguards against regulatory capture, thereby indirectly contributing to authoritarian risks.

Watchdog probe says Atlanta Fed president created 'appearance' of impropriety