The Federal Reserve Board of Governors in Washington D.C. appointed Renu Khator, UH president and chancellor, to the Federal Reserve Bank of Dallas for a position with the board of directors.
“She will serve an unexpired portion of a three-year term ending Dec. 31, 2011,” Richard Bonnin, executive director of media relations and Khator’s representative at UH, said.
The Federal Reserve Bank of Dallas is among 12 different reserve banks within the United States Federal Reserve System.
“She is eligible for reappointment to a full three-year term at the conclusion of the unexpired term,” Bonnin said.
The Federal Reserve Bank of Dallas currently serves the Eleventh Reserve District.
This district contains the entire state of Texas, the northern area of Louisiana, and the southern area of New Mexico, according to the Dallas Federal website.
The bank also has branches in El Paso, Houston and San Antonio. The main function of the bank is to work to keep a stable economy in this part of the country.
There are 12 Federal Reserve Banks in the United States; each one is composed of nine members on the board of directors.
Of these nine members, three serve to represent the commercial banks, three more serve to represent the public’s interests and the last three members must be appointed by the Boards of Governors in Washington, D.C., in order to serve.
Khator’s Jan. 13 appointment is among the last of the board of directors for the Federal Reserve Bank of Dallas.
“I am honored to receive this appointment, and I am proud to serve in this position that offers a major role in the supervision and regulation of the US banking system,” Khator said in a UH press release by Richard Bonnin.
For more information on the Federal Reserve Bank of Dallas, please visit www.dallasfed.org.
You need to run this article past an editor.
Renu Khator was not chosen for a position with the board of directors of the Federal Reserve Bank of Dallas. That reads like she is an employee of sorts of the board.
She has been appointed to the position of member of the board of directors which is quite an honor.
The headline also confuses the Federal Open Market Committee (FOMC) of the Fed. with the Federal Reserve Bank of Dallas, itself.
Federal Reserve Bank board membership for Khator.
Congratulations Dr. Khator.
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GP