Federal Reserve Bank of Cleveland Names New Advisory Council Members


The Federal Reserve Bank of Cleveland announced the following appointments to its community bank and business advisory councils. Each council meets three times a year with Reserve Bank President Jerry Jordan and other Bank officials. All of the appointments are for terms ending in December 2004.

The Community Bank Advisory Council was formed in 1985 to help inform the Cleveland Fed about issues of interest and concern to community bankers in the Fourth Federal Reserve District. The new members of the council are:

Michael M. Cottle, president and chief executive officer, The First National Bank of Blanchester, Blanchester, Ohio

Luther Deaton, Jr., chairman, president and chief executive officer, Central Bank & Trust Company, Lexington, Kentucky

(Mr.) G. Courtney Haning, chairman, president and chief executive officer, The Peoples National Bank, New Lexington, Ohio.

The Business Advisory Council was established in 1985 to provide a forum for discussion of economic conditions and their effects on business in the Fourth Federal Reserve District. The new members of the council are:

William E. Adams, chairman and chief executive officer, Adams Manufacturing Corporation, Portersville, Pennyslvania

R. Duane Hord, president, Hord Livestock Company, Inc., Bucyrus, Ohio

Frederick D. Pond, president, Ridge Tool Company, Inc., Elyria, Ohio.

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The Federal Reserve Bank of Cleveland is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises bank holding companies and certain commercial banks, and provides banking services to financial institutions and to the U.S. government.

The Cleveland Reserve Bank, including its branch offices in Cincinnati and Pittsburgh, and serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

See also http://www.clevelandfed.org/ccca/Pressrel.cfm