How are six of nine director positions for boards of each federal district bank filled?

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2026-03-25 18:15

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Six of the nine director positions for each federal district bank are filled by member banks within the district. Specifically, these banks elect three Class A directors who represent member banks, and three Class B directors who represent the public and are selected by the Board of Governors in Washington, D.C. The remaining three directors are Class C directors, also appointed by the Board of Governors, who represent the public and cannot be affiliated with member banks. This structure ensures a balance between banking interests and public representation in the governance of the Federal Reserve Banks.

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