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12 U.S.C. § 247b — Appearances before Congress
Federal law — U.S. Code and appendices · legal_authorities
The Vice Chairman for Supervision shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives and at semi-annual hearings regarding the efforts, activities, objectives, and plans of the Board with respect to the conduct of supervision and regulation of depository institution holding companies and other financial firms supervised by the Board.
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Source file: Laws/federal/codes/united-states-code/title-12/section-247b-appearances-before-congress--b6d20ed796.md
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Source location: Title 12, Chapter 3, § 247b; chapter-003-federal-reserve-system.md
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The Vice Chairman for Supervision shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives and at semi-annual hearings regarding the efforts, activities, objectives, and plans of the Board with respect to the conduct of supervision and regulation of depository institution holding companies and other financial firms supervised by the Board.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary is authorized to promulgate regulations to implement and administer the grant programs and undertakings authorized by this subchapter.
**(b) Regulatory authority** Regulations prescribed under this section may contain such classifications, differentiations, or other provisions, and may provide for such adjustments and exceptions for any class of grant programs, undertakings, or eligible entities, as, in the judgment of the Secretary, are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion of this subchapter, or to facilitate compliance with this subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5301
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System (hereinafter referred to as the “Board”) shall be composed of seven members, to be appointed by the President, by and with the advice and consent of the Senate, after August 23, 1935, for terms of fourteen years except as hereinafter provided, but each appointive member of the Federal Reserve Board in office on such date shall continue to serve as a member of the Board until February 1, 1936, and the Secretary of the Treasury and the Comptroller of the Currency shall continue to serve as members of the Board until February 1, 1936. In selecting the members of the Board, not more than one of whom shall be selected from any one Federal Reserve district, the President shall have due regard to a fair representation of the financial, agricultural, industrial, and commercial interests, and geographical divisions of the country. In selecting members of the Board, the President shall appoint at least 1 member with demonstrated primary experience working in or supervising community banks having less than $10,000,000,000 in total assets. The members of the Board shall devote their entire time to the business of the Board and shall each receive basic compensation at the rate of $15,000 per annum, payable monthly, together with actual necessary traveling expenses.
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Federal law — U.S. Code and appendices · legal_authorities
Page 92
TITLE 12—BANKS AND BANKING
§ 247
1 See References in Text note below.
and control of the Treasury Department and bu-
reaus 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 su-
pervision and control of the Secretary.
(Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 261; June
3, 1922, ch. 205, 42 Stat. 621; Aug. 23, 1935, ch. 614,
title II, § 203(a), 49 Stat. 704.)
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 classi-
fication 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.
§ 247. Reports to Congress
The Board of Governors of the Federal Reserve
System shall annually make a full report of its
operations to the Speaker of the House of Rep-
resentatives, who shall cause the same to be
printed for the information of the Congress. The
report required under this paragraph shall in-
clude the reports required under section 1691f of
title 15, section 57a(f)(7) 1 of title 15, section 1613
of title 15, and section 247a of this title.
(D
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 247b
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