Federal Advisory Council


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Related to Federal Advisory Council: Consumer Advisory Council

Federal Advisory Council (FAC)

Advisory group made up of one representative (in most cases a banker) from each of the 12 Federal Reserve districts. Established by the Federal Reserve Act, the council meets periodically with the Board of Governors to discuss business and financial conditions and make recommendations.

Federal Advisory Council

A committee consisting of representatives from each of the 12 Federal Reserve Banks, along with a President and a Vice President. The FAC conducts research on behalf of the Federal Reserve and advises the Board of Governors on potential policy changes.
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