Statements of interest in membership on the Insurance Policy Advisory Committee (IPAC) at the Federal Reserve Board are invited in a Federal Register notice slated for publication Tuesday.
The IPAC was created under the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) of 2018 to advise the Fed Board on international capital standards and other insurance matters. Statements of interest in serving on the panel will be due to the Fed 60 days after the Register notice is published, which works out to on or near Sept. 12.
The Fed notes that the committee will have no more than 21 members. Initial members, selected in 2019, have staggered terms to provide continuity, it said, and members chosen at subsequent times will be appointed to three-year terms unless the appointment is made to fill an unexpired term. It noted that selected members will serve a three-year term on IPAC beginning Jan. 1, 2021, unless selected to fill an unexpired term.