The Federal Reserve Bank of Richmond announces the following appointments to its Baltimore Board of Directors:

William J. McCarthy, executive director of Catholic Charities of Baltimore, was appointed to the board by the Board of Governors of the Federal Reserve System.

Cecilia A. Hodges, regional president of M&T Bank, was appointed by the Federal Reserve Bank of Richmond Board of Directors to serve on the Baltimore board.

The Richmond Fed’s branch offices in Baltimore and Charlotte have seven-member boards of directors. The Bank’s nine-member Board of Directors provides oversight and brings diverse perspectives and ground-level information about local economic conditions from communities across the Fifth District.

As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.