12 U.S.C. § 3307: Administration

Summary

The Council Chair can run and delegate the Council’s internal work. The Chair may hire and supervise staff and decide how work is shared among members, employees, and units. The Council may also use, when those organizations agree and when it is practical, the people, services, and facilities of Federal financial institutions regulatory agencies, Federal Reserve banks, and Federal Home Loan Banks, and it may do so with or without paying them back. Following title 5 rules on competitive service, classification, and General Schedule pay rates, the Council can appoint officers and employees, set their pay, and assign their duties. The Council can also hire outside experts and consultants as needed.

Title 12, §3307

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(a)Authority of Chairman of Council

The Chairman of the Council is authorized to carry out and to delegate the authority to carry out the internal administration of the Council, including the appointment and supervision of employees and the distribution of business among members, employees, and administrative units.

(b)Use of personnel, services, and facilities of Federal financial institutions regulatory agencies, Federal Reserve banks, and Federal Home Loan Banks

in addition to any other authority conferred upon it by this chapter, in carrying out its functions under this chapter, the Council may utilize, with their consent and to the extent practical, the personnel, services, and facilities of the Federal financial institutions regulatory agencies, Federal Reserve banks, and Federal Home Loan Banks, with or without reimbursement therefor.

(c)Compensation, authority, and duties of officers and employees; experts and consultants

In addition, the Council may—

(1)subject to the provisions of title 5 relating to the competitive service, classification, and General Schedule pay rates, appoint and fix the compensation of such officers and employees as are necessary to carry out the provisions of this chapter, and to prescribe the authority and duties of such officers and employees; and

(2)obtain the services of such experts and consultants as are necessary to carry out the provisions of this chapter.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The provisions of title 5 relating to the competitive service, referred to in subsec. (c), are classified generally to section 3301 et seq. of Title 5, Government Organization and Employees. The provisions of title 5 relating to classification, referred to in subsec. (c), are classified generally to chapter 51 (§ 5101 et seq.) and to subchapter III (§ 5331 et seq.) of chapter 53 of Title 5. The provisions of title 5 relating to General Schedule pay rates, referred to in subsec. (c), are set out under section 5332 of Title 5.

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.

§3307 Administration