Title 12 — Banks and Banking
Chapter 53 — Wall Street Reform and Consumer Protection
§ 5614. Exercise of Federal Reserve authority
Statutory text
No decisions by Federal reserve bank presidents
No provision of subchapter I relating to the authority of the Board of Governors shall be construed as conferring any decision-making authority on presidents of Federal reserve banks.
Voting decisions by Board
The Board of Governors shall not delegate the authority to make any voting decision that the Board of Governors is authorized or required to make under subchapter I of this chapter in contravention of section 248(k) of this title.
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.
Dodd-Frank Wall Street Reform and Consumer Protection Act
Pub. L. 111–203 title XI § 1108(d) · 124 Stat. 1376
Enacted · 12 U.S.C. § 5614
(Pub. L. 111–203, title XI, § 1108(d), July 21, 2010, 124 Stat. 2127.)
Source evidence
Code source credit
(Pub. L. 111–203, title XI, § 1108(d), July 21, 2010, 124 Stat. 2127.)Enacted provision · exact public law section
(d) Exercise of Federal Reserve Authority.— (1) No decisions by federal reserve bank presidents.— No provision of title I relating to the authority of the Board of Governors shall be construed as conferring any decision-making authority on presidents of Federal reserve banks. (2) Voting decisions by board.— The Board of Governors shall not delegate the authority to make any voting decision that the Board of Governors is authorized or required to make under title I of this Act in contravention of section 11(k) of the Federal Reserve Act.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
Subchapter I, referred to in text, was in the original “title I”, meaning title I of Pub. L. 111–203, , 124 Stat. 1391, known as the Financial Stability Act of 2010, which is classified principally to subchapter I (§ 5311 et seq.) of this chapter. For complete classification of title I to the Code, see Short Title note set out under section 5301 of this title and Tables.