
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
