Title 12Banks and BankingRelease 119-73

§225a Maintenance of long run growth of monetary and credit aggregates

Title 12 › Chapter CHAPTER 3— - FEDERAL RESERVE SYSTEM › Subchapter SUBCHAPTER I— - DEFINITIONS, ORGANIZATION, AND GENERAL PROVISIONS AFFECTING SYSTEM › § 225a

Last updated Apr 6, 2026|Official source

Summary

Match long‑run money and credit growth to the economy’s capacity for high employment, steady prices, and moderate interest rates long term.

Full Legal Text

Title 12, §225a

Banks and Banking — Source: USLM XML via OLRC

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Another section 202 of Pub. L. 95–188 amended section 302 of this title.

Amendments

2000—Pub. L. 106–569 struck out provisions after first sentence relating to annual reports to Congress, transmittal of reports to Congressional Committees, consultations with Committees, report of Committee, changing conditions affecting achievement of objectives and plans, and explanation for deviations from objectives and plans. 1988—Pub. L. 100–418 inserted “, including an analysis of the impact of the exchange rate of the dollar on those trends” after “the Nation” in cl. (1). 1978—Pub. L. 95–523 substituted provisions relating to independent written reports of the Board of Governors to the Congress for provisions relating to the consultations of the Board of Governors with Congress at semi-annual hearings, substituted “the objectives and plans with respect to the ranges” for “such ranges”, inserted “of the monetary and credit aggregates disclosed in the reports submitted under this section” after “growth or diminution”, and inserted proviso respecting the inclusion of an explanation of reasons for revisions or deviations in subsequent consultations and reports.

Statutory Notes and Related Subsidiaries

Effective Date

of 1978 Amendment Pub. L. 95–523, title I, § 108(b), Oct. 27, 1978, 92 Stat. 1898, provided that: “The amendment made by subsection (a) [amending this section] takes effect on January 1, 1979.”

Reference

Citations & Metadata

Citation

12 U.S.C. § 225a

Title 12Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73