WASHINGTON -- President Bush on Tuesday announced two nominations to the Federal Reserve Board, allowing him to deepen his imprint on the institution.

Bush nominated two bankers — Larry Klane and Elizabeth Duke — to vacant seats on the seven-member board.

The Fed determines the course of interest rates in the United States. It also is responsible for making sure the nation's financial system remains sound.

The president has appointed all of the current members on the Federal Reserve's board, including Chairman Ben Bernanke. He took office in February of last year, succeeding Alan Greenspan.

The two nominations, which are subject to Senate approval, would bolster the Fed's banking expertise.

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Klane, of the District of Columbia, is the president of global financial services of Capital One Financial Corp. Duke, of Virginia, is senior executive vice president and chief operating officer of TowneBank,

The president also said he intends to appoint Fed Governor Randall Kroszner to a full, 14-year term on the Fed board. Kroszner has been with the Fed since March of last year. Before that, he was an economics professor at the University of Chicago's Graduate School of Business.

Klane holds a bachelor's degree from Harvard College and an MBA from Stanford University. Duke received her bachelor's degree from the University of North Carolina and her MBA from Old Dominion University. She also is a graduate and former instructor of the Stonier Graduate School of Banking.

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