
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC247a]

 
                       TITLE 12--BANKS AND BANKING
 
                    CHAPTER 3--FEDERAL RESERVE SYSTEM
 
     SUBCHAPTER II--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
 
Sec. 247a. Records of action on policy relating to open-market 
        operation and policies determined generally; inclusion in report 
        to Congress
        
    The Board of Governors of the Federal Reserve System shall keep a 
complete record of the action taken by the Board and by the Federal Open 
Market Committee upon all questions of policy relating to open-market 
operations and shall record therein the votes taken in connection with 
the determination of open-market policies and the reasons underlying the 
action of the Board and the Committee in each instance. The Board shall 
keep a similar record with respect to all questions of policy determined 
by the Board, and shall include in its annual report to the Congress a 
full account of the action so taken during the preceding year with 
respect to open-market policies and operations and with respect to the 
policies determined by it and shall include in such report a copy of the 
records required to be kept under the provisions of this section.

(Dec. 23, 1913, ch. 6, Sec. 10 (par.), as added Aug. 23, 1935, ch. 614, 
title II, Sec. 203(d), 49 Stat. 705.)

                          Codification

    Section is comprised of tenth par. of section 10 of act Dec. 23, 
1913, as added Aug. 23, 1935. For classification to this title of other 
pars. of section 10, see Codification note set out under section 241 of 
this title.

                  Section Referred to in Other Sections

    This section is referred to in section 247 of this title.
