The Federal Reserve System's board of governors has elected J. Walter McDowell and Wesley S. Williams Jr. as class A directors of the Federal Reserve Bank of Richmond.

Mr. McDowell is the president and chief executive of Wachovia Bank of North Carolina, Winston-Salem. Mr. Williams is a partner at the law firm of Covington & Burling, Washington.

They were elected to three-year terms starting Jan. 1.

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