Federal Advisory Council (FAC) Advisory group made up of one representative (in most cases a banker) from each of the 12 Federal Reserve districts. Established by the Federal REserve Act, the council meets periodically with the Board of Governors to discuss business and financial conditions and make recommendations.
Federal agency securities
Federal agency securities Securities issued
by corporations and agencies created by the
US government, such as the Federal
Home Loan Bank Board and
Ginnie Mae.