Title 12 — Banks and BankingRelease 119-73
§483 Special examination of member banks; information of condition furnished to Board of Governors of the Federal Reserve System
Title 12 › Chapter CHAPTER 3— - FEDERAL RESERVE SYSTEM › Subchapter SUBCHAPTER XV— - BANK EXAMINATIONS › § 483
Summary
A Federal Reserve Bank may order special exams of member banks in its district with approval of the Federal Reserve agent or the Board. The Board may bill the banks for the cost, and the banks must pay if billed. Exams must show each bank’s condition and credit lines, and the Reserve Bank must give the Board any requested information.
Full Legal Text
Title 12, §483
Banks and Banking — Source: USLM XML via OLRC
In addition to the examinations made and conducted by the Comptroller of the Currency, every Federal reserve bank may, with the approval of the Federal reserve agent or the Board of Governors of the Federal Reserve System, provide for special examination of member banks within its district. The expense of such examinations may, in the discretion of the Board of Governors of the Federal Reserve System, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined. Such examinations shall be so conducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Federal reserve bank shall at all times furnish to the Board of Governors of the Federal Reserve System such information as may be demanded concerning the condition of any member bank within the district of the said Federal reserve bank.
Legislative History
Notes & Related Subsidiaries
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 fifth par. of R.S. § 5240, as amended. See Codification note set out under section 481 of this title.
Amendments
1930—Act June 26, 1930, substituted second sentence “The expense of such examinations may, in the discretion of the Federal Reserve Board, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined.” for “The expense of such examinations shall be borne by the bank examined.”
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.
Executive Documents
Exception as to
Transfer of Functions
Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in
Transfer of Functions
to Secretary of the Treasury, see note set out under section 1 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 483
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73