Making Sense of the Federal Reserve
In Plain English: Reserve Bank Board of Directors
Each Reserve Bank has its own board of directors, which oversees the Bank's activities. These directors contribute local business experience, community involvement, and leadership and reflect the diverse interests of each District. Each board has nine members. Six of the directors are elected by member commercial banks. Three of the directors are appointed by the Board of Governors. From among these three, the Board of Governors selects a chair and a deputy chair of the given Bank’s board.