The Federal Reserve Bank of Richmond announced the formation of a Community Depository Institutions Advisory Council and the appointment of members.
The CDIAC will provide input to the Richmond Fed on the economy, lending conditions and other issues. Members were selected from representatives of banks, thrift institutions and credit unions in the Fifth Federal Reserve District.
One member of the council will serve with counterparts from other Reserve Banks on the Community Depository Institutions Advisory Council of the Federal Reserve Board, which will meet with the Board twice a year in Washington.
Members of the Richmond Fed CDIAC and their term expirations are:
Majors serves as the Fifth District representative on the Federal Reserve Board CDIAC.
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.
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