This report (1) analyzes the level of diversity on the boards of directors and assesses the extent to which the process of identifying possible directors and appointing them results in diversity on the boards, (2) evaluates the effectiveness of policies and practices for identifying and managing conflicts of interest for Reserve Bank
directors, and (3) compares Reserve Bank
governance practices with the practices of selected organizations.
The Federal Reserve Board approved on September 20, 2005, an action by the Board of Directors of the Federal Reserve Bank
of San Francisco, increasing the discount rate at the Bank from 4 1/2 percent to 4 3/4 percent.
As part of their ongoing effort to respond to the significant shift away from the use of paper checks and toward the much greater use of electronic payments, the Federal Reserve Banks
will discontinue check processing at the Federal Reserve Bank
of New York's East Rutherford Operations Center.
I had already met the other Board members--Mike Kelley, Larry Lindsey, Susan Phillips, Janet Yellen, and, of course, Alma Greenspan--but I had previously met only a few of the Reserve Bank
Rod Palencia says his reason for taking a tour of the Federal Reserve Bank
branch in downtown Los Angeles was simple, ``it was to get a better understanding of how the banking system operates.
India's central bank, the Reserve Bank
of India, has relaxed entry norms for banks in insurance business, making it easier for foreign companies to find partners for their operations in the country.
Moskow has been named president of the Federal Reserve Bank
of Chicago, effective Sept.
CLEVELAND -- The Federal Reserve Bank
of Cleveland announced the following appointments to its main office and branch boards of directors and to the Federal Advisory Council.
As of December 10, 2005, the Oklahoma City Branch office of the Federal Reserve Bank
of Kansas City will no longer process checks, and depository institutions that were assigned to that office have been reassigned to the head office of the Federal Reserve Bank
CONTACT: Nancy Goodman, 312-322-5110 or Suzanne Heffner, 312-322-5108, both of the Federal Reserve Bank
CLEVELAND -- Stephen Jenkins has been appointed senior vice president responsible for the banking supervision function at the Federal Reserve Bank
of Cleveland, effective March 1, 2007.
The Federal Reserve Board approved fee schedules on November 2, 2005, for Federal Reserve Bank
payment services for depository institutions (priced services), effective January 3, 2006.