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Federal Reserve Board of Governors Confers Award on Philadelphia Fed Examiner

For release: February 15, 2002
Contact: Kathy Woodbury, (215) 574-4119

Washington, D.C. - The Federal Reserve Board of Governors has announced that Robert W. Snarr Jr., a supervising examiner with the Federal Reserve Bank of Philadelphia, recently received the William Taylor Award for Excellence in Bank Supervision.

Snarr started his career with the Bank as an assistant examiner in 1981, and he was promoted to supervising examiner in 1994. Snarr holds a bachelor's degree in business administration from Rutgers University.

Other recipients of the award are Jack Dewitt, directing examiner for the Federal Reserve Bank of Atlanta; Brian C. Dragoo, examiner, and Mark S. Meder, banking supervisor, both of the Federal Reserve Bank of Cleveland.

The award was established in Taylor's memory after he died of cancer at age 54. Taylor had served as director of the Division of Banking, Supervision, and Regulation for the Board of Governors of the Federal Reserve System in Washington, D.C., from 1984 to 1991. Following that, Taylor had been chairman of the Federal Deposit Insurance Corporation.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware. The Bank supplies cash to these banks and thrifts, supervises them, collects and processes about 5 million checks daily, wires money and securities nationwide, as well as participates in the broader objective of setting monetary policy.

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