At a time when the Federal Reserve finds itself more deeply involved in banking oversight, a new report laments the lack of direct regulatory experience among its top officials.

The Conference of State Bank Supervisors study zeros in on the members of the Fed’s seven-member board of governors in Washington.

The paper’s authors observe these policymakers, both now and for some time, have been drawn primarily the ranks of academic economists. A few have had finance backgrounds, while fewer have had direct experience in the regulation of the financial industry. This contrasts with the Fed’s early decades, when most of the board members were drawn from the ranks of banking, finance and government. The transition over time is tracked in a colorful Excel chart (one could quibble with some of the classifications, given many board members had experience in more than one category):