Title 12 — Banks and BankingRelease 119-73not60
§246 Powers of Secretary of the Treasury as Affected by Chapter
Title 12 › Chapter 3— FEDERAL RESERVE SYSTEM › Subchapter II— BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › § 246
Summary
The Secretary of the Treasury keeps the earlier authority to run and oversee the Treasury and its bureaus, and any Federal Reserve power that conflicts with those duties must be under the Secretary’s control.
Full Legal Text
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.
Legislative History
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.
Reference
Citations & Metadata
Citation
12 U.S.C. § 246
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60