The Federal Reserve System uses advisory and working committees in carrying out its varied responsibilities. Three of these committees advise the Federal Reserve Board directly: the Federal Advisory Council, the Community Depository Institutions Advisory Council, and the Community Advisory Council. The Federal Advisory Council was established by law, and the Community Depository Institutions Advisory Council and the Community Advisory Council were created by the Federal Reserve Board.
Each Federal Reserve Bank also uses advisory committees. These committees advise the Bank on matters of importance in the Bank's District, such as agriculture and small business.