For immediate release

The Federal Reserve Board on Wednesday announced the appointment of the chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2006.

Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington appoints three of these directors and each year designates one of its appointees as chairman and a second as deputy chairman.

Following are the names of the chairmen and deputy chairmen appointed by the Board for 2006:

Boston
Blenda J. Wilson, President and Chief Executive Officer, Nellie Mae Education Foundation, Quincy, Massachusetts, named Chairman.

Lisa M. Lynch, William L. Clayton Professor of International Economic Affairs, The Fletcher School of Law and Diplomacy, Tufts University, Medford, Massachusetts, named Deputy Chairman.

New York
John E. Sexton, President, New York University, New York, New York, renamed Chairman.

Jerry I. Speyer, President and Chief Executive Officer, Tishman Speyer Properties, New York, New York, renamed Deputy Chairman.

Philadelphia
Doris M. Damm, President and Chief Executive Officer, ACCU Staffing Services, Cherry Hill, New Jersey, named Chairman.

William F. Hecht, Chairman and Chief Executive Officer, PPL Corporation, Allentown, Pennsylvania, named Deputy Chairman.

Cleveland
Charles E. Bunch, Chairman and Chief Executive Officer, PPG Industries, Inc., Pittsburgh, Pennsylvania, named Chairman.

Tanny Crane, President and Chief Executive Officer, Crane Group, Cleveland, Ohio, named Deputy Chairman.

Richmond
Thomas J. Mackell, Jr., Director, National Investment Managers, Inc., Warrenton, Virginia, renamed Chairman.

Theresa M. Stone, Chief Financial Officer, Jefferson-Pilot Corporation, and President, Jefferson-Pilot Communications Company, Greensboro, North Carolina, renamed Deputy Chairman.

Atlanta
David M. Ratcliffe, Chairman, President, and Chief Executive Officer, Southern Company, Atlanta, Georgia, renamed Chairman.

V. Larkin Martin, Managing Partner, Martin Farm, Courtland, Alabama, renamed Deputy Chairman.

Chicago
Miles D. White, Chairman and Chief Executive Officer, Abbott Laboratories, Abbott Park, Illinois, named Chairman.

John A. Canning, Jr., Chairman and Chief Executive Officer, Madison Dearborn Partners, Inc., Chicago, Illinois, named Deputy Chairman.

St. Louis
Walter L. Metcalfe, Jr., Partner, Bryan Cave LLP, St. Louis, Missouri, renamed Chairman.

Irl F. Engelhardt, Chairman and Chief Executive Officer, Peabody Energy, St. Louis, Missouri, named Deputy Chairman.

Minneapolis
Frank L. Sims, Corporate Vice President, Transportation, Cargill, Inc., Wayzata, Minnesota, named Chairman.

James J. Hynes, Executive Administrator, Twin City Pipe Trades Service Association, St. Paul, Minnesota, named Deputy Chairman.

Kansas City
Robert A. Funk, Chairman of the Board and Chief Executive Officer, Express Personnel Services International, Oklahoma City, Oklahoma, renamed Chairman.

Lu M. Cordova, President, CTEK Venture Centers, Denver, Colorado, named Deputy Chairman.

Dallas
Ray L. Hunt, Chairman, President, and Chief Executive Officer, Hunt Consolidated, Inc., Dallas, Texas, renamed Chairman.

Anthony R. Chase, Chairman and Chief Executive Officer, ChaseCom, L.P., Houston, Texas, named Deputy Chairman.

San Francisco
David K. Y. Tang, Partner, Preston Gates & Ellis LLP, Seattle, Washington, named Chairman.

T. Gary Rogers, Chairman and Chief Executive Officer, Dreyer's Grand Ice Cream, Oakland, California, named Deputy Chairman.

2005 Other announcements