§ 247. — Reports to Congress.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC247]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER II--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Sec. 247. Reports to Congress
The Board of Governors of the Federal Reserve System shall annually
make a full report of its operations to the Speaker of the House of
Representatives, who shall cause the same to be printed for the
information of the Congress. The report required under this paragraph
shall include the reports required under section 1691f of title 15,
section 57a(f)(7) of title 15, section 1613 of title 15, and section
247a of this title.
(Dec. 23, 1913, ch. 6, Sec. 10 (par.), 38 Stat. 261; June 3, 1922, ch.
205, 42 Stat. 621; Aug. 23, 1935, ch. 614, title II, Sec. 203(a), 49
Stat. 704; Pub. L. 106-569, title XI, Sec. 1103(b), Dec. 27, 2000, 114
Stat. 3030.)
Codification
Section is comprised of seventh par. of section 10 of act Dec. 23,
1913. For classification to this title of other pars. of section 10, see
Codification note set out under section 241 of this title.
Amendments
2000--Pub. L. 106-569 inserted at end ``The report required under
this paragraph shall include the reports required under section 1691f of
title 15, section 57a(f)(7) of title 15, section 1613 of title 15, and
section 247a of this title.''
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.
Membership of International Banks in Federal Reserve System; Report to
Congress
Pub. L. 95-369, Sec. 3(g), Sept. 17, 1978, 92 Stat. 610, provided
that the Board report to Congress not later than 270 days after Sept.
17, 1978 recommendations with respect to permitting corporations
organized or operating under section 25 or 25(a) of the Federal Reserve
Act to become members of Federal Reserve Banks.
Effect of International Banking Act of 1978 on International Banks;
Report to Congress
Pub. L. 95-369, Sec. 3(h), Sept. 17, 1978, 92 Stat. 610, provided
that: ``As part of its annual report pursuant to section 10 of the
Federal Reserve Act [this section], the Board shall include its
assessment of the effects of the amendments made by this Act [see Short
Title note set out under section 3101 of this title] on the
capitalization and activities of corporations organized or operating
under section 25 or 25(a) of the Federal Reserve Act [sections 601 to
604 and 611 to 631 of this title], and on commercial banks and the
banking system.''
