Question

Each Federal Reserve district has ______ directors. Define how we classify the directors, how they are chosen and who they represent.

Answer 1

Each of the 12 Reserve Banks is supervised by nine-member board of directors.

Classification of Directors-

Directors are divided into three classes—Class C, Class B, and Class A.

Class C directors are appointed by the Board of Governors and they represent the public with due consideration given to the interests of agriculture, service, consumers, commerce, industry.

Class B and A directors are elected by the member banks in their respective Federal Reserve District. Class B directors also represent the public, and Class A directors are elected to represent the member banks.

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