§ 326. — Acceptance of examinations and reports by State authorities; special examinations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC326]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER VIII--STATE BANKS AS MEMBERS OF SYSTEM
Sec. 326. Acceptance of examinations and reports by State
authorities; special examinations
Whenever the directors of the Federal reserve bank shall approve the
examinations made by the State authorities, such examinations and the
reports thereof may be accepted in lieu of examinations made by
examiners selected or approved by the Board of Governors of the Federal
Reserve System: Provided, however, That when it deems it necessary the
board may order special examinations by examiners of its own selection
and shall in all cases approve the form of the report. The expenses of
all examinations, other than those made by State authorities, 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. The Board of Governors of the Federal
Reserve System, at its discretion, may furnish any report of examination
or other confidential supervisory information concerning any State
member bank or other entity examined under any other authority of the
Board, to any Federal or State agency or authority with supervisory or
regulatory authority over the examined entity, to any officer, director,
or receiver of the examined entity, and to any other person that the
Board determines to be proper.
(Dec. 23, 1913, ch. 6, Sec. 9 (par.), as added June 21, 1917, ch. 32,
Sec. 3, 40 Stat. 233; amended June 26, 1930, ch. 611, Sec. 1, 46 Stat.
814; Aug. 23, 1935, ch. 614, title II, Sec. 203(a), 49 Stat. 704; Pub.
L. 106-102, title VII, Sec. 727(a), Nov. 12, 1999, 113 Stat. 1475.)
Codification
Section is comprised of the eighth par. of section 9 of act Dec. 23,
1913, as amended. The eighth par. constituted the sixth par. of section
9 in 1917 (40 Stat. 232), became the seventh par. in 1927 (44 Stat.
1229), and became the eighth par. in 1950 (64 Stat. 458). For further
details, see Codification note set out under section 321 of this title.
Amendments
1999--Pub. L. 106-102 inserted last sentence and struck out former
last sentence which read as follows: ``Copies of the reports of such
examinations may, in the discretion of the Board of Governors of the
Federal Reserve System, be furnished to the State authorities having
supervision of such banks, to officers, directors, or receivers of such
banks, and to any other proper persons.''
1930--Act June 26, 1930, amended next to last sentence and inserted
last sentence.
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.
