§246 — Title 12 Banks and Banking | U.S. Code

Summary

Keeps the Secretary of the Treasury’s current power to oversee, manage, and run the Treasury Department and its bureaus. If a power given to the Federal Reserve Board or a Federal Reserve agent conflicts with the Secretary’s power, that power must be used under the Secretary’s supervision and control.

Title 12, §246

Banks and Banking — Source: USLM XML via OLRC

Nothing in this chapter contained shall be construed as taking away any powers heretofore vested by law in the Secretary of the Treasury which relate to the supervision, management, and control of the Treasury Department and bureaus under such department, and wherever any power vested by this chapter in the Board of Governors of the Federal Reserve System or the Federal reserve agent appears to conflict with the powers of the Secretary of the Treasury, such powers shall be exercised subject to the supervision and control of the Secretary.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see

References in Text

note set out under section 226 of this title and Tables. Codification Section is comprised of sixth par. of section 10 of act Dec. 23, 1913. For classification to this title of other pars. of section 10, see Codification note set out under section 241 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.

§246 Powers of Secretary of the Treasury as affected by chapter

Summary

Title 12, §246

Notes & Related Subsidiaries

Editorial Notes

References in Text

References in Text

Statutory Notes and Related Subsidiaries

Change of Name

Citations & Metadata