Boards of Directors

A nine-member Board of Directors oversees the operations of the Federal Reserve Bank of Chicago. Our Detroit Board of Directors serve in a similar capacity at our Branch office. For more information on our directors, and those of other Federal Reserve Banks, visit the Board of Governors site.

Governance

Policies that govern the activities of the Board of Directors.

Director Election

For more information about how board members are nominated and elected, refer to Section 4 of the Federal Reserve Act.

Committees

In addition to the general duties of the Board, members may also participate in committees responsible for oversight of specific Bank functions and responsibilities.

Executive Committee

The Executive Committee is available to act for the Board between Board meetings or whenever a quorum is not present at a Board meeting.

Members

Audit Committee

The Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities for the financial reporting process, the system of internal control, risk management process, the audit process, compliance with laws, regulations and the code of conduct, including System activities for which the District has responsibility. Charter

Members

Governance and Human Resources Committee

The Governance and Human Resources Committee assists the Board of Directors in considering director candidates and makes recommendations for Board membership as well as Federal Advisory Council membership. Additionally, the committee provides oversight for District governance and human resources matters. Charter

Members

System Activities, Bank Operations and Risk Committee

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, as well as the operations of the Federal Reserve Bank of Chicago. Charter

Members