12-U.S.C.-483
§483 – Special Examination of Member Banks; Information of Condition Furnished to Board of Governors of The Federal Reserve System
Pathway
Title 12 > Chapter 3 > Subchapter XV > Section 483
Details
- Reference: Section 483
- Legend: §483 – Special Examination of Member Banks; Information of Condition Furnished to Board of Governors of The Federal Reserve System
- USCode Year: 2013
Provision Content
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.
(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.)
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 June 26, 1930, 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.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
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.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-419 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-419, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-482 in the Legal Encyclopedia: Federal Reserve System
In this entry about 12-U.S.C.-482, find legal reference material, bibliographies and premiere content related to federal reserve system in the American Encyclopedia of Law, presenting a comprehensive view of the United States federal reserve system-specific issues, written by authorities in the field.
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