The Federal Reserve Board of Governors made the following appointment to the Charlotte Board of Directors, effective immediately:
Claude C. Lilly — Dean, Belk College of Business, University of North Carolina at Charlotte, Charlotte, N.C.
The Boards of Directors of the Baltimore and Charlotte offices of the Federal Reserve Bank of Richmond have seven members. A majority of each Office's directors are appointed by the Boards of Directors of the Richmond Reserve Bank and the remainder by the Board of Governors of the Federal Reserve System.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.