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critical to the New York Fed's governance structure is its board of directors the board is composed of nine members and includes representatives from the business community banks and labor and consumer organizations directors cannot be members of Congress and may not participate in certain partisan political activities such as holding a leadership position in a partisan political campaign or serving on a fundraising or campaign committee the role of the directors is to advise the Reserve Bank president about economic community and business developments in the district and to ensure that the bank is a well governed and well-managed institution the members are divided into three groups or classes of three directors each class a directors are elected by and serve as representatives of stock holding banks three groups of member banks representing small medium and large banks each choose one of the three directors in Class A Class B directors also elected by member banks represent public in

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