Title 12, Banks and BankingRelease 119-102
§3304 Costs and Expenses of Council
Title 12 › CHAPTER 34 — FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL › § 3304
Summary
Each Federal financial institutions regulatory agency must pay one-fifth of the Council’s costs, including staff salaries. The Council charges them once a year based on its budget and can assess extra payments during the year if needed.
Full Legal Text
Title 12, §3304
Banks and Banking, Source: USLM XML via OLRC
One-fifth of the costs and expenses of the Council, including the salaries of its employees, shall be paid by each of the Federal financial institutions regulatory agencies. Annual assessments for such share shall be levied by the Council based upon its projected budget for the year, and additional assessments may be made during the year if necessary.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3304
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102