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Quick Tour
of the Federal Reserve Board
The Structure
of the Federal Reserve Board
At the core of the Federal Reserve System is
the Board of Governors, or Federal Reserve Board. The Board
of Governors, located in Washington, D.C., is a federal government
agency that is the Fed's centralized component. The Board
consists of seven members — called governors — who
are appointed by the president of the United States and confirmed
by the Senate. These governors guide the Federal Reserve's
policy actions.
A governor's term is 14 years. The appointments
to the Board are staggered — one term expiring every
two years — to ensure stability and continuity in the
group.
Heading the Board are the chairman and vice
chairman, who are appointed by the U.S. president to serve
four-year terms.
Board Offices and Divisions
The Board itself is made up of
these major offices and divisions:
OFFICES
Office of Board Members
Office of Inspector General
Office of the Secretary
Office of Staff Director for Management
DIVISIONS
Banking Supervision and Regulation
Consumer and Community Affairs
Information Technology
International Finance
Legal
Management Division
Monetary Affairs
Research and Statistics
Reserve Bank Operations and Payment Systems
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