Only three bankers can serve on a Reserve Bank’s board of directors, and only one of those can be from a large commercial bank in the District. The remaining six directors represent the interests of the public.
The Federal Reserve System benefits enormously from the insights and support of the boards of directors of the Reserve Banks and their  11  As originally enacted, Section 10 of the Federal Reserve Act required that the President, in nominating Board members, “have due regard to a fair representation of the different commercial, industrial and geographical divisions of the country” (see Federal Reserve Act, ch.