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Federal Reserve Board
(redirected from The Federal Advisory Council)

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
Federal Reserve Board (FRB)
The seven-member governing body of the Federal Reserve System, which is responsible for setting reserve requirements, and the discount rate, and making other key economic decisions.

Board of Governors of the Federal Reserve System
A committee of the Federal Reserve charged with implementing monetary policy of the United States. It consists of seven members appointed by the President of the United States and confirmed by the Senate. The chairman of the Board also serves as Chairman of the Federal Reserve. Members serve for staggered, 14-year terms. The length of service is designed to give the Board as much independence from Congress, and therefore immediate political expediency, as possible. The Board makes an annual report on its operation to the Speaker of the House of Representatives and its members serve ex officio on the Federal Open Market Committee.

Federal Reserve Board
The seven governing members of the Federal Reserve System who are appointed by the President for 14-year terms. Board members play an important role in determining the country's monetary policy which, in turn, strongly influences economic activity.


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In recognition of his growing banking expertise, Bowen was appointed in 1984-87 to the Federal Advisory Council of the Federal Reserve by the Federal Reserve Bank of St.
A former president of Yorkton's Chamber and member of the Canada Export Awards selection panel, she currently sits on SaskPower's board of directors and is a former president of the Women Business Owners of Canada as well a member of the Royal Bank's small business advisory board, the federal Advisory Council for the Status of Women and the Canada Customs and Revenue Agency small business advisory committee.
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.
 
 
 
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