§ 485. — Examination of Federal reserve banks.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC485]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XV--BANK EXAMINATIONS
Sec. 485. Examination of Federal reserve banks
The Board of Governors of the Federal Reserve System shall, at least
once each year, order an examination of each Federal reserve bank, and
upon joint application of ten member banks the Board of Governors of the
Federal Reserve System shall order a special examination and report of
the condition of any Federal reserve bank.
(R.S. Sec. 5240 (par.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23,
1913, ch. 6, Sec. 21, 38 Stat. 272; Aug. 23, 1935, ch. 614, title II,
Sec. 203(a), 49 Stat. 704.)
Codification
R.S. Sec. 5240 derived from act June 3, 1864, ch. 106, Sec. 54, 13
Stat. 116, which was part of the National Bank Act. See section 38 of
this title.
Section is comprised of seventh par. of R.S. Sec. 5240, as amended.
See Codification note set out under section 481 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.
Section Referred to in Other Sections
This section is referred to in section 1831k of this title.
