Title 12 — Banks and BankingRelease 119-73
§485 Examination of Federal reserve banks
Title 12 › Chapter CHAPTER 3— - FEDERAL RESERVE SYSTEM › Subchapter SUBCHAPTER XV— - BANK EXAMINATIONS › § 485
Summary
The Board must examine each Federal reserve bank yearly and order a special exam and report if ten member banks jointly apply.
Full Legal Text
Title 12, §485
Banks and Banking — Source: USLM XML via OLRC
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.
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 seventh par. of R.S. § 5240, as amended. See Codification note set out under section 481 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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 485
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73