The Federal Reserve Act requires each Reserve Bank
to be governed by a nine-member board--three Class A directors elected by member banks to represent their interests, three Class B directors elected by member banks to represent the public, and three Class C directors that are appointed by the Federal Reserve Board to represent the public.
The Board also approved an action by the Board of Directors of the Federal Reserve Bank
The step announced today will help the Reserve Banks
reduce our check service operating costs in line with the continuing shift in consumer and business preferences for electronic payments," said Gary Stern, chairman of the Reserve Banks
' Financial Services Policy Committee and president of the Federal Reserve Bank
To the right of Bernard was William McDonough, president of the Federal Reserve Bank
of New York, the Vice Chairman of the FOMC, and a permanent member of the Committee.
Paredes is one of several employees who takes visitors on tours at the Los Angeles branch of the Federal Reserve Bank
of San Francisco, at 950 S.
The Reserve Bank
had previously suggested that entry would be restricted to banks with 1% less in nonperforming assets, or bad debts, than the industry average.
Cline, chairman of the board of directors of the Chicago Reserve Bank
, and chairman, president, and chief executive officer of NICOR Inc.
Cleveland, Ohio, was appointed chairman of the board of directors of the Federal Reserve Bank
of Cleveland for 2010.
The Board is providing earlier-than-usual notice of the amendments to the appendix A routing symbol lists under the Federal Reserve Bank
of Cleveland because these amendments differ from earlier announcements.
The Federal Reserve Bank
of Cleveland is one of twelve regional Reserve Banks
that, along with the Board of Governors in Washington, D.
In addition the Board approved the 2006 private-sector adjustment factor (PSAF) for Reserve Bank
priced services of $117.
WASHINGTON, April 7 /PRNewswire/ -- The Federal Reserve Bank
of Chicago has awarded MCI a 10-year, multi-million dollar contract to provide circuits for a nationwide data communications network.
As of June 18, 2005, the Salt Lake City Branch office of the Federal Reserve Bank
of San Francisco will no longer process checks, and banks that are served by that office have been reassigned to the Denver Branch office of the Federal Reserve Bank
of Kansas City.
has been appointed a director of the Federal Reserve Bank
of New York, effective June 18, it was announced today by the New York Fed.
Crane, president and chief executive officer of Crane Group, Columbus, Ohio, was appointed chairman of the board of directors of the Federal Reserve Bank
of Cleveland for 2007 and was reappointed to a three-year term as a Bank director.