Bank Governance

The St. Louis Fed is a corporation chartered under the Federal Reserve Act. It is subject to oversight and supervision by the Board of Governors of the Federal Reserve System. As a corporation, it is governed by a board of directors, whose nine members are selected as provided in the Federal Reserve Act.

  • Three directors are selected by the Board of Governors of the Federal Reserve System to represent the public. These directors must reside and conduct business or other activities in the District. They represent the interests of labor, consumers, commerce, manufacturing or agriculture. They may not own stock or serve as a director of financial institutions.
  • Six directors are elected to the board by the Bank's shareholders, which are the member banks in the District. Of those six directors, three are representatives of the District's banks, and three represent the public (like those selected by the Board of Governors). The three elected public directors may not serve as a director, officer or employee of a financial institution.

All directors are selected for a three-year term of office and may serve two full terms.

A key duty of board members is to provide information to the Bank about economic conditions in the District and in the director's business or area of expertise. In addition, the directors provide oversight of Bank management.

The St. Louis Fed has policies in place relating to conflicts of interest. The Bank also has policies to preserve the independence of the Bank from politics and from undue influence by District bankers, some of whom serve on the board of directors.

For officers and other employees of the Bank, the St. Louis Fed has a code of conduct. In addition, the president and first vice president are subject to the Board of Governors' Voluntary Guide to Conduct for Senior Officials.

For additional information about the Bank's governance practices, ethics rules and forms, including the bank president's most recent financial disclosure form, contact

For media inquiries, please contact Adriene Dempsey, at