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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 485 Examination of Federal reserve banks us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 485 12 U.S.C. § 485 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s485 data/legal/raw/us/code/title-12/usc12.xml 02f805a2e1c17a1d775add6c505aaa6ffb4c95431d89b0d1378f04ad2ef2af04 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 3ecb897af47333633f661b683407081880dbdcb56e0949f2149e6caa2e38f6fb 2026-07-04 official
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12 U.S.C. § 485 - Examination of Federal reserve banks

Text

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. § 5240 (par.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

Notes

Editorial Notes

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 seventh par. of R.S. § 5240, as amended. See Codification note set out under section 481 of this title.

Statutory Notes and Related Subsidiaries

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.