Boards of Directors

The San Francisco Fed is governed by a nine‐member board of directors. The Federal Reserve Act provides that Reserve Bank directors are divided into three classes—Class C, Class B, and Class A. Each class is comprised of three directors.

Each of the four branches in Los Angeles, Portland, Salt Lake City, and Seattle also has a separate seven‐member branch board.

Head Office (San Francisco) Board of Directors

Effective January 1, 2024

Class C: Appointed by the Board of Governors to represent the public

Class C directors are appointed with consideration (but not exclusive) to the interests of agriculture, commerce, industry, services, labor, and consumers. They cannot be officers, directors, employees, or stockholders of any bank—or bank, financial, or thrift holding company. The Board of Governors also designates a board chair and deputy chair for each Reserve Bank from among that Bank’s Class C directors. The chair must have experience or familiarity with banking or financial services. Class C directors must have been residents of the District for two years prior to appointment.

Class B: Elected by member banks to represent the public

Class B directors are elected with consideration (but not exclusive) to the interests of agriculture, commerce, industry, services, labor, and consumers. They cannot be officers, directors, or employees of any bank.

Class A: Elected by member banks to represent member banks

Class A directors may be an officer, director, or employee of a member bank. They are prohibited from participating in the appointment of Reserve Bank presidents and first vice presidents, as well as in decisions related to the performance and compensation of presidents and first vice presidents. In addition, they may not participate in the selection, appointment, and compensation of all Reserve Bank officers whose primary duties involve supervisory matters.

Branch Boards

Los Angeles Branch Board of Directors

Portland Branch Board of Directors

Salt Lake City Branch Board of Directors

Seattle Branch Board of Directors

Boards of Directors and Responsibilities

Reserve Bank directors play a critical role in the effective functioning of the Federal Reserve System supervising the administration of their respective Reserve Bank’s operations, performing an important corporate governance function, and providing insights to help inform FOMC deliberations.

Directors are an important connection between the Reserve Banks and their communities. As part of their role, directors are expected to contribute to the Federal Reserve System’s understanding of the diverse economic conditions across their District and the effect of those conditions on the overall economy.

Board of Governors policy prohibits Reserve Banks from providing confidential supervisory information to any director and excludes all directors from participating in any bank supervisory matters.

Learn more about the roles and responsibilities of Federal Reserve Directors.

2024 Director Demographic Data

Director Class/Type	Female	Male	Hispanic or Latino	White	Black or African American	Asian	Native Hawaiian or Pacific Islander	American Indian or Alaska Native	Two or more races
SF Head Office Directors – Class C	0	3	1	1	1	0	0	0	0
SF Head Office Directors – Class B	2	1	1	1	1	0	0	0	0
SF Head Office Directors – Class A	2	1	0	3	0	0	0	0	0
Branch Directors – Board of Governors‑Appointed	7	5	3	7	1	1	0	0	0
Branch Directors – SF Head Office Board/Bank‑Appointed	7	9	1	10	2	1	0	1	1
Total Count	18	19	6	22	5	2	0	1	1
Percent of Total	49%	51%	16%	59%	14%	5%	0%	3%	3%

Last updated July 2024

Related

Elections and Appointments

Director Election Circulars

Federal Reserve System Boards of Directors