RICHMOND, Va., Dec. 8 /PRNewswire-USNewswire/ -- The Federal Reserve Board of Governors made the following appointment to the Federal Reserve Bank of Richmond's Board of Directors, effective Jan. 1, 2009:
Linda D. Rabbitt--- Chief Executive Officer, Rand Construction Corporation, Alexandria, Va., was appointed as a Class C director of the Richmond board for a three-year term.
Each Federal Reserve Bank has a nine-member board of directors. Three Class A and three Class B directors are elected to three-year terms by the stockholding member banks, and three Class C directors are appointed to three-year terms by the Board of Governors of the Federal Reserve System. Class A directors represent the stockholding member banks in each Federal Reserve District. Class B and Class C directors represent the public and are chosen with due consideration to the interests of agriculture, commerce, industry, services, labor and consumers.
The Federal Reserve Bank of Richmond is one of 12 District Reserve Banks that together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Richmond Fed serves the Fifth Federal Reserve District, which encompasses the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.
