For release: Feb. 6, 2002
Contact: Charles B. Henderson, (314) 444-8311

Kemper Appointed to Federal Advisory Council

ST. LOUIS . -- David W. Kemper, chairman, president and CEO of Commerce Bancshares, Inc., has been appointed by the board of directors of the Federal Reserve Bank of St. Louis to serve a one-year term on the Federal Advisory Council.

Established by the Federal Reserve Act, the Federal Reserve Advisory Council consists of one representative from each of the 12 Federal Reserve districts. The members of the council confer at least four times a year with the Federal Reserve Board of Governors in Washington, D.C., on economic and banking developments, and make recommendations on Fed system activities. Representatives on the council may be re-appointed and may serve a maximum of three one-year terms.

With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. In addition to serving as a bank for depository institutions and the U.S. government, each Reserve Bank monitors economic conditions in the District, participates in formulating monetary policy, and supervises state-chartered member banks and bank holding companies to foster safety and soundness of the District's banking and financial institutions and to protect the credit rights of consumers.

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