New York Fed announces investor advisory group

WASHINGTON — The Federal Reserve Bank of New York on Friday announced the creation of an investor advisory group, part of its ongoing efforts to closely monitor economic and financial conditions.

The 13-member Investor Advisory Committee on Financial Markets won't have any formal policymaking responsibilities, but will "serve as a forum for informal discussions on financial, economic and public policy issues," the New York Fed said.

The panel includes executives from Soros Fund Management, Credit Suisse Group, bond manager Pacific Investment Management Co., Apollo Advisors and more.

The group likely will meet three or four times annually, according to a New York Fed spokesman.