Federal Advisory Council — Consists of one member from each Reserve District, usually a commercial banker. Members meet four times a year with the Board of Governors to discuss economic and banking matters.

Consumer Advisory Council — Consists of legal specialists in consumer matters, academics, and members representing the interests of consumers and the financial industry. Members meet with the Board three times a year on matters concerning consumers and consumer protection laws.

Thrift Institutions Advisory Council — Consists of representatives of savings and loan associations, savings banks and credit unions. Members meet with the Board three times a year to provide information and views on the special needs and problems of thrift institutions.

There are also advisory committees that consult with individual Reserve Banks on matters such as agriculture and small business, and provide grassroots input for monetary policy decisions.