William Treiber, Retired Federal Reserve Bank Official -- Rest in Peace

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Subject: William Treiber, Retired Federal Reserve Bank Official

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October 22

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Date Posted: October 30, 2002 7:39:07 EDT

William F. Treiber, a longtime senior official of the Federal Reserve Bank of New York, died on Oct. 22 at his home in Bloomfield, Conn., according to a spokeswoman for the bank. He was 94.

Mr. Treiber joined the bank in 1934 and was its No. 2 official, or first vice president, from 1952 until his retirement in 1973. In the position, Mr. Treiber was an alternate member of the Federal Open Market Committee, the policy-making body of the Federal Reserve.

In June 1970, Mr. Treiber helped prevent the financial disruption caused by the collapse of the Penn Central Railroad from spreading into a broader crisis. Over the weekend that the railroad failed, Mr. Treiber sat at his kitchen table in Connecticut and called top executives at the major New York banks. The Federal Reserve, he told them, was prepared to release additional money to stave off a financial panic.

After retiring, Mr. Treiber advised the central banks of Armenia, Lithuania and Oman.

He is survived by his wife, Betty; a daughter, Elizabeth Ahrens, of Winchester Center, Conn.; a son, Andy, of Barton, Vt.; and three grandchildren.

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