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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Federal Advisory Council

The Federal Advisory Council (FAC), which is composed of twelve representatives of the banking industry, consults with and advises the Board on all matters within the Board's jurisdiction. The council ordinarily meets four times a year, the minimum number of meetings required by the Federal Reserve Act. These meetings are always held in Washington, D.C., customarily on the first Friday of February, May, September, and December, although occasionally the meetings are set for different times to suit the convenience of either the council or the Board.  Each year, each Reserve Bank chooses one person to represent its District on the FAC, and members customarily serve three one-year terms. The members elect their own officers.


  • Bruce W. Van Saun, First District
  • Michael L. Corbat, Second District
  • Mark A. Turner, Third District
  • Beth E. Mooney, Fourth District
  • Brian T. Moynihan, Fifth District
  • William H. Rogers, Jr., Sixth District
  • Frederick H. Waddell, Seventh District
  • Ronald J. Kruszewski, Eighth District
  • Kenneth J. Karels, Ninth District
  • Leslie R. Andersen, Tenth District
  • Ralph W. Babb, Jr., Eleventh District
  • Robert G. Sarver, Twelfth District
  • Herb Taylor, Secretary

Records of the meetings of the Federal Advisory Council

February 10 PDF
November 30 PDF
September 7 PDF
May 4 PDF
February 3 PDF
December 4 PDF
September 3 PDF
May 8 PDF
February 5 PDF
December 5 PDF
September 19 PDF
May 9 PDF
February 7 PDF
December 6 PDF
September 20 PDF
May 17 PDF
February 8 PDF
December 14  PDF
September 14  PDF
May 11  PDF
February 3  PDF
December 2  PDF
September 2  PDF
May 13  PDF
Last update: February 17, 2017