Hal Keller Elected a Director of the Federal Reserve Bank of Cleveland
Harold (Hal) Keller, president, Ohio Capital Corporation for Housing (OCCH), Columbus, Ohio, was elected a director of the Federal Reserve Bank of Cleveland, effective May 25, 2011.
OCCH is a non-profit financial intermediary that provides developers of affordable housing with access to capital markets. OCCH has become the largest locally controlled syndicator of Low Income Housing Tax Credits in the nation -- having raised over $2 billion in private corporate equity investment, financed more than 25,000 units of affordable housing, and assisted in the creation of more than 450 affordable housing projects.
Keller holds a master's degree in both public administration and social work from The Ohio State University and a bachelor's degree in applied social science from Case Western Reserve University. He serves on the boards of a variety of organizations, including the Affordable Housing Trust for Columbus and Franklin County; YMCA of Central Ohio; Ohio Housing Council; Greater Ohio Policy Center; National Association of Affordable Housing Lenders; National Housing Conference; and the National Association of State and Local Equity Funds.
The Federal Reserve System
The Federal Reserve Bank of Cleveland is one of 12 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 banks and bank holding companies, and provides payment services to financial institutions and to the U.S. government. Payment services include check clearing, electronic payments, and the distribution of currency and coin.
Reserve Bank Directors
Each Reserve Bank's main office has a nine-member board of directors. Three directors are elected by and representative of the stockholding banks in each Federal Reserve District. The other six directors represent the general public, which includes business, agriculture, labor and consumers. Of these, three are elected by member banks and three are appointed by the Federal Reserve's Board of Governors in Washington, D.C.
Directors' responsibilities include making recommendations to the Board of Governors regarding the Federal Reserve's discount rate on primary credit; providing information about regional business conditions to their Reserve Bank president; and overseeing the Bank's budget and finances. For a complete list of the members of the boards of directors of the Federal Reserve Bank of Cleveland, click here.
Fourth Federal Reserve District
The Federal Reserve Bank of Cleveland, with branches in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. For information on the Federal Reserve Bank of Cleveland, see www.clevelandfed.org