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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Federal Advisory Council

The Federal Advisory Council (FAC), which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. The council ordinarily meets four times a year, the minimum number of meetings required by the Federal Reserve Act. These meetings are always held in Washington, D.C., customarily on the first Friday of February, May, September, and December, although occasionally the meetings are set for different times to suit the convenience of either the council or the Board. Each year, each Reserve Bank chooses one person to represent its District on the FAC, and members customarily serve three one-year terms. The members elect their own officers.

Members

William Downe, President Lyle R. Knight, Vice President
  • Ellen Alemany, First District
  • Robert P. Kelley, Second District
  • R. Scott Smith, Jr., Third District
  • Henry L. Meyer III, Fourth District
  • Kenneth D. Lewis, Fifth District
  • Richard G. Hickson, Sixth District
  • William Downe, Seventh District
  • Lewis F. Mallory, Jr., Eighth District
  • Lyle R. Knight, Ninth District
  • David C. Boyles, Tenth District
  • James Goudge, Eleventh District
  • Russell Goldsmith, Twelfth District
  • James E. Annable, Secretary
Last update: September 8, 2008