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Federal Advisory Council

Definition

The Federal advisory council or is a body composed of representatives chosen by each of the twelve Federal Reserve Banks that "consults with and advises the Board on all matters within the Board's jurisdiction."

What is 'Federal Advisory Council'

A group of 12 banking executives - one from each Federal Reserve District - that advises the Federal Reserve Board regarding the state of the banking industry and money supply. Positions on the Federal Advisory Council are determined by a voting process within each Federal Reserve District, with representatives often being elected to more than one term. Federal Advisory Council meetings take place at least quarterly in Washington D.C., with increasing frequency in times of financial crisis.

Explaining 'Federal Advisory Council'

The Federal Advisory Council is one of three formal bodies that advise the Federal Reserve Board on its operations, the others being the Consumer Advisory Council and the Thrift Institutions Advisory Board, which are comprised of executives from credit unions, saving and loans, and mutual banks. Of the three advisory councils, the Federal Advisory Council is considered the most influential because it provides the Federal Reserve Board with the broadest insight into the state of the banking system.


Further Reading


The influence of the Federal Advisory Council on monetary policy
www.jstor.org [PDF]
… assigned strictly independently by an economics professor at another university … (a) . "Electoral Cycles in Economic Policy," Challenge … Page 12. APPENDIX (Continued) INDEX OF FEDERAL ADVISORY COUNCIL DIRECTIVES, 1973-1985 Date of Directive Excerpt Index Feb …

The Economic Advisory Council, 1930–1939The Economic Advisory Council, 1930–1939
ideas.repec.org [PDF]
… assigned strictly independently by an economics professor at another university … (a) . "Electoral Cycles in Economic Policy," Challenge … Page 12. APPENDIX (Continued) INDEX OF FEDERAL ADVISORY COUNCIL DIRECTIVES, 1973-1985 Date of Directive Excerpt Index Feb …

The Recognition Lag of the Federal Advisory CouncilThe Recognition Lag of the Federal Advisory Council
www.jstor.org [PDF]
… assigned strictly independently by an economics professor at another university … (a) . "Electoral Cycles in Economic Policy," Challenge … Page 12. APPENDIX (Continued) INDEX OF FEDERAL ADVISORY COUNCIL DIRECTIVES, 1973-1985 Date of Directive Excerpt Index Feb …


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