Board of Governors
Federal Reserve Board (FRB), also known as Board of Governors and Federal Reserve Board of Governors
USA
A federal government agency that:
• Supervises and regulates the Federal Reserve Banks.
• Is responsible for the US's payment system.
• Administers most of the US laws regarding consumer credit protection.
• Supervises banking institutions and banking activities including State chartered banks that have elected to join the Federal Reserve System, bank holding companies (bank holding company), foreign activities of member banks and US activities of foreign banks.
The FRB is composed of seven members who are appointed by the President and confirmed by the US Senate.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Board of Governors of Federal Reserve System — Seven member board, with fourteen year terms, which governs the twelve Federal Reserve Banks and branches. The Board of Governors determines general monetary, credit, and operating policies for the System as a whole and formulates the rules and… …   Black's law dictionary

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