Board of Directors
The nine-member board is made up community and business leaders from the Seventh District who have expertise and insight into our region’s economy. The board meets to discuss current economic conditions in the region. This information informs the President of the Chicago Fed’s policy outlook. Additionally, board members serve on committees that oversee the Bank’s operations.
The Executive Committee acts for the Board between meetings or whenever a quorum is not present.
The Audit Committee assists the Board in the financial reporting process, risk management process, audit process, internal control system, and compliance with laws, regulations, and the code of conduct, including System activities the District oversees.
The Governance and Human Resources Committee assists the Board in considering director candidates, Board membership, and Federal Advisory Council membership. The committee also provides oversight for District governance and human resources matters.
The System Activities, Bank Operations and Risk Committee provides oversight for the consolidated activities that the Seventh District performs for other Federal Reserve Banks, services provided to the District by other Reserve Banks, and the operations of the Federal Reserve Bank of Chicago.