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.
References in periodicals archive ?
Pittsburgh, Pennsylvania, was appointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council.
Russell Goldsmith was reappointed by the Federal Reserve Bank of San Francisco's board of directors to represent the 12th District on the Federal Advisory Council for a one-year term beginning 2010.
SAN FRANCISCO -- Russell Goldsmith, chairman and CEO of City National Bank, was reappointed to represent the Twelfth Federal Reserve District on the Federal Advisory Council.
The Federal Advisory Council (FAC), a body created by the Federal Reserve Act, consists of one member - generally from the commercial banking industry - from each of the twelve Reserve Bank Districts.
Meyer III, chairman and chief executive officer of KeyCorp, Cleveland, Ohio, was reappointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council.
He has served as chairman of the board of MasterCard International Incorporated in New York and also was the Federal Reserve Bank of Chicago's representative to, and vice president of, the Federal Advisory Council to the Board of Governors of the Federal Reserve in Washington.
Meyer III, chairman and chief executive officer of KeyCorp, Cleveland, Ohio, was appointed to a one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council.
Cecala served on the Federal Advisory Council representing the Federal Reserve Bank of Philadelphia and the Third District.
SAN FRANCISCO -- The Federal Reserve Bank of San Francisco's board of directors has appointed Russell Goldsmith, chairman and CEO of City National Bank, to represent the Twelfth Federal Reserve District on the Federal Advisory Council for a one-year term beginning January 2008.
chairman and chief executive officer of Fifth Third Bancorp, Cincinnati, Ohio, was appointed to a second one-year term as the Fourth Federal Reserve District's representative on the Federal Advisory Council.
The Federal Advisory Council consults with and advises the Federal Reserve Board of Governors on financial matters, including the national economy, the financial services industry's view on regulatory issues, proposed regulations, and the health of the financial services industry.

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