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The seven-member board of governors is a big federal agency that features in enterprise oversight by examining national banks. 56 :12,15 It’s charged with the overseeing of the 12 District Reserve Banks and setting national financial policy. It also supervises and regulates the U.S. banking system typically. fifty seven Governors are appointed by the President of the United States and confirmed by the Senate for staggered 14-year phrases. 37 One time period paper cp begins each two years, on February 1 of even-numbered years, and members serving a full time period can’t be renominated for a second term. 58 “Upon the expiration of their phrases of workplace, members of the Board shall proceed to serve till their successors are appointed and have certified.” The regulation provides for the removal of a member of the board by the president “for cause”. fifty nine The board is required to make an annual report of operations to the Speaker of the U.S. Home of Representatives.
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