There are 21 counties in the U.S. state of New Jersey. These counties together contain 564 municipalities, or administrative entities composed of clearly defined territory; 253 boroughs, 52 cities, 15 towns, 240 townships, and 4 villages. In New Jersey, a county is a local level of government between the state and municipalities. County government in New Jersey includes a Board of County Commissioners, sheriff, clerk, and surrogate (responsible for uncontested and routine probate), all of which are elected positions. Counties organized under the Optional County Charter Law may also have an elected county executive. Counties traditionally perform state-mandated duties such as the maintenance of jails, parks, and certain roads. The site of a county's administration and courts is called the county seat.
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Counties of New Jersey in the context of Federal Reserve Bank of New York
The Federal Reserve Bank of New York is one of the twelve Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Located at 33 Liberty Street in Lower Manhattan, it is the largest (by assets), the most active (by volume), and the most influential of the Reserve Banks.
The Federal Reserve Bank of New York is uniquely responsible for implementing monetary policy on behalf of the Federal Open Market Committee and acts as the market agent of the entire Federal Reserve System (as it houses the Open Market Trading Desk and manages System Open Market Account). It is also the sole fiscal agent of the U.S. Department of the Treasury, the bearer of the Treasury's General Account, and the custodian of the world's largest gold storage reserve. Aside from these distinct functions, the New York Fed also performs the same responsibilities and tasks as the other Reserve Banks do, such as supervision and research.