Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 483. Special examination of member banks; information of condition furnished to Board of Governors of the Federal Reserve System
Statutory text
In addition to the examinations made and conducted by the Comptroller of the Currency, every Federal reserve bank may, with the approval of the Federal reserve agent or the Board of Governors of the Federal Reserve System, provide for special examination of member banks within its district. The expense of such examinations may, in the discretion of the Board of Governors of the Federal Reserve System, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined. Such examinations shall be so conducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Federal reserve bank shall at all times furnish to the Board of Governors of the Federal Reserve System such information as may be demanded concerning the condition of any member bank within the district of the said Federal reserve bank.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
R.S. § 5240 (par.)
Enacted · 12 U.S.C. § 483
R.S. § 5240 (par.)
Unresolved: No Public Law or Statutes at Large citation in the Code source.
Source evidence
Code source credit
R.S. § 5240 (par.)
0 of 1 references resolved to an enrolled provision · 1 unresolved
Editorial Notes
Codification
R.S. § 5240 derived from act June 3, 1864, ch. 106, § 54, 13 Stat. 116, which was part of the National Bank Act. See section 38 of this title.
Section is comprised of fifth par. of R.S. § 5240, as amended. See Codification note set out under section 481 of this title.
Amendments
1930—Act , substituted second sentence “The expense of such examinations may, in the discretion of the Federal Reserve Board, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined.” for “The expense of such examinations shall be borne by the bank examined.”
Statutory Notes and Related Subsidiaries
Change of Name
Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Executive Documents
Exception as to Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.
Credits
1875–1935 · 5 acts
- R.S. § 5240 (par.)
- 1875Feb. 19, 1875, ch. 89, 18 Stat. 329
- 1913Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272
- 1930June 26, 1930, ch. 611, § 2, 46 Stat. 814
- 1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.
Show as published
(R.S. § 5240 (par.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; June 26, 1930, ch. 611, § 2, 46 Stat. 814; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)