Federal Reserve Board

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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.
References in periodicals archive ?
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.
Cecala served on the Federal Advisory Council representing the Federal Reserve Bank of Philadelphia and the Third District.
WASHINGTON -- The General Services Administration (GSA) today won the federal Advisory Council for Historic Preservation's first Chairman's Award for Federal Achievement in Historic Preservation for the U.
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.
He is a member of the Federal Advisory Council to the Federal Reserve System, as well as a member and trustee of The Financial Services Roundtable.
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.
business leaders who advised branches of the federal government on policy matters, and was a member of the Federal Advisory Council on Employment during the administration of President Lyndon Johnson, and was appointed by President Richard Nixon to serve on the National Commission on Productivity.
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.
Bobins' corporate involvement includes: member of the Banker's Club of Chicago, the Federal Advisory Council, the Financial Services Roundtable and the Commercial Club of Chicago.
president and chief executive officer of Fifth Third Bancorp and Fifth Third Bank, Cincinnati, Ohio, will represent the Fourth Federal Reserve District on the Federal Advisory Council.
He is Secretary to the Federal Advisory Council of the Federal Reserve Board and is a Director of Unitrin, Inc.
The Federal Advisory Council (FAC) is composed of 12 representatives of the banking industry.