Federal Reserve Bank of New York
The Federal Reserve Bank of NY (FRBNY) has a nine-member board of directors which is divided in 3 classes: Class A directors (Carrion, Mello and Lipkin) are elected by member banks in the NY district; they are not permitted to play a role in regulatory decisions or in the appointment of the president of the FRBNY. Class B directors (Hutchins, Lundgren and Cote) are elected by member banks to represent the public. Class C directors ((Rafferty, Horowitz and Tessier-Lavigne) are appointed by the Federal Board of Governors to represent the public. Class B and C directors, who select the bank president, cannot be officers, directors, employees or stockholders of any bank.
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