http://en.wikipedia.org/wiki/Federal_Reserve_Bank_of_New_York33 Liberty Street A public competition for design of the building was held and the architectural firm of York and Sawyer submitted the winning design.[citation needed] The bank moved to its current location in 1928. The Federal Reserve Bank of New York maintains a vault that lies 86 feet (26 m) below sea level, resting on Manhattan bedrock. By 1927, the vault contained ten percent of the world's official gold reserves. Currently, it is reputedly the largest gold repository in the world (though this cannot be confirmed as Swiss Banks do not report their gold stocks) and holds approximately 5,000 metric tons of gold bullion ($160 billion as of March, 2008), more than Fort Knox. The gold is owned by many foreign nations, central banks and international organizations. The Federal Reserve Bank does not own the gold but serves as guardian of the precious metal, which it protects at no charge as a gesture of good will to other nations. =
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