Election Process for Federal Reserve Bank of Cleveland Directors

Annually, the Federal Reserve Bank of Cleveland holds elections for positions held by directors of the main office’s board whose terms expire on the last day of the calendar year. Off-cycle elections are conducted when vacancies occur during the year. Member banks participate in the election by nominating and then voting on Class A and Class B director candidates.

Nomination of Directors

An election will be held under the provisions of Section 4 of the Federal Reserve Act, as amended, for the positions held by the directors of the Federal Reserve Bank of Cleveland whose terms expire on December 31, 2023. The recommendations from the Board of Directors’ Nominating Committee are listed below. The committee cannot make nominations; its recommendations are advisory only.

• Nomination Procedures
• Nomination Eligibility
• Class A Recommended Nominee
• Class B Recommended Nominee

Election of Directors

In accordance with the provisions of Section 4 of the Federal Reserve Act, as amended, and the nominating committee letter dated September 25, 2023, regarding the election of one Class A, Group 3 director and one Class B, Group 3 director of the Federal Reserve Bank of Cleveland, the names of the candidates nominated are provided below.

• Election Procedures
• Class A Nominee
• Class B Nominee

Director Election Results

The election of directors has been held in accordance with the requirements of Section 4 of the Federal Reserve Act, as amended, and the provisions described in the letter from the nominating committee dated September 25, 2023. The results of the election are posted below:

• Election Results