| Thomas
C. Baxter, Jr., has been general counsel and executive vice
president of the legal group at the Federal Reserve Bank
of New York since March 1995. He also serves as deputy general
counsel of the Federal Open Market Committee. His principal
responsibility is to supervise the day-to-day operation
of the New York Fed’s legal group, which includes
the protection function, and he also serves on the bank’s
Management Committee.
Prior to being named general counsel,
he had been deputy general counsel, equivalent to senior
vice president, since September 1993.
Mr. Baxter joined the bank as an
attorney in August of 1980, following a one-year appointment
as a law assistant to the justices of the Appellate Division
of the New York Supreme Court. He became an officer of the
New York Fed in July 1984, when he was promoted to assistant
counsel.
He represents the Federal Reserve
Bank of New York on two Presidents’ Conference Committees,
including the Subcommittee of Counsel on Personnel and the
Subcommittee of Legal Counsel.
In addition to Mr. Baxter’s
involvement with New York Fed and Federal Reserve System
committees, he is very active in the legal community as
a member of the American Bar Association and the Association
of the Bar of the City of New York. He also has served as
a legal advisor to the Current Payment Methods project of
the National Conference of Commissioners on Uniform State
Laws, which developed Article 4A of the Uniform Commercial
Code, and amendments to Articles 3 and 4. Mr. Baxter also
served as a member of the United States delegation to a
United Nations group that developed a model law governing
credit transfers.
He earned his law degree from the
Georgetown University Law Center in 1979 after earning a
bachelor of arts degree from the University of Rochester
in 1976. He is a member of the New York bar.
Mr. Baxter has published articles
concerning legal aspects of bank supervision, check collection,
securities transfers, and electronic transfers of funds.
He also is a joint author of two text books, “Wire
Transfers: A Guide to U.S. and International Laws Governing
Funds Transfers” (Probus 1993), and “The ABC’s
of the UCC: Article 4A Funds Transfers” (ABA 1997).
He often lectures on various matters at programs sponsored
by the Uniform Commercial Code Institute, the Department
of Justice’s Advocacy Institute, the American Bar
Association, the American Law Institute, the Bank Administration
Institute, the Practicing Law Institute, the Federal Financial
Institutions Examination Council, and similar organizations.
He lives on Staten Island
with his wife and their three children.
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