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12 U.S.C. § 483 — Special examination of member banks; information of condition furnished to Board of Governors of the Federal Reserve System
Federal law — U.S. Code and appendices · legal_authorities
In addition to the examinations made and conducted by the Comptroller of the Currency, every Federal reserve bank may, with the approval of the Federal reserve agent or the Board of Governors of the Federal Reserve System, provide for special examination of member banks within its district. The expense of such examinations may, in the discretion of the Board of Governors of the Federal Reserve System, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined. Such examinations shall be so conducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Federal reserve bank shall at all times furnish to the Board of Governors of the Federal Reserve System such information as may be demanded concerning the condition of any member bank within the district of the said Federal reserve bank.
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Stable record: federal_law:legal_authorities:record_usc_a651bebdc750a437410fd035
Source file: Laws/federal/codes/united-states-code/title-12/section-483-special-examination-of-member-banks-information-of-condition-furnished-t--d3740ac05d.md
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Source location: Title 12, Chapter 3, § 483; chapter-003-federal-reserve-system.md
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In addition to the examinations made and conducted by the Comptroller of the Currency, every Federal reserve bank may, with the approval of the Federal reserve agent or the Board of Governors of the Federal Reserve System, provide for special examination of member banks within its district. The expense of such examinations may, in the discretion of the Board of Governors of the Federal Reserve System, be assessed against the banks examined, and, when so assessed, shall be paid by the banks examined. Such examinations shall be so conducted as to inform the Federal reserve bank of the condition of its member banks and of the lines of credit which are being extended by them. Every Federal reserve bank shall at all times furnish to the Board of Governors of the Federal Reserve System such information as may be demanded concerning the condition of any member bank within the district of the said Federal reserve bank.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Office of the Comptroller of the Currency established** There is established in the Department of the Treasury a bureau to be known as the “Office of the Comptroller of the Currency” which is charged with assuring the safety and soundness of, and compliance with laws and regulations, fair access to financial services, and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.
**(b) Comptroller of the Currency**
(1) **In general** — The chief officer of the Office of the Comptroller of the Currency shall be known as the Comptroller of the Currency. The Comptroller of the Currency shall perform the duties of the Comptroller of the Currency under the general direction of the Secretary of the Treasury. The Secretary of the Treasury may not delay or prevent the issuance of any rule or the promulgation of any regulation by the Comptroller of the Currency, and may not intervene in any matter or proceeding before the Comptroller of the Currency (including agency enforcement actions), unless otherwise specifically provided by law.
(2) **Additional authority** — The Comptroller of the Currency shall have the same authority with respect to functions transferred to the Comptroller of the Currency under the Enhancing Financial Institution Safety and Soundness Act of 2010 as was vested in the Director of the Office of Thrift Supervision on the transfer date, as defined in section 311 of that Act [[12 U.S.C. 5411](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5411&num=0&edition=prelim)].
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
The Comptroller of the Currency, with the approval of the Secretary of the Treasury, shall appoint examiners who shall examine every national bank as often as the Comptroller of the Currency shall deem necessary. The examiner making the examination of any national bank shall have power to make a thorough examination of all the affairs of the bank and in doing so he shall have power to administer oaths and to examine any of the officers and agents thereof under oath and shall make a full and detailed report of the condition of said bank to the Comptroller of the Currency: Provided, That in making the examination of any national bank the examiners shall include such an examination of the affairs of all its affiliates other than member banks as shall be necessary to disclose fully the relations between such bank and such affiliates and the effect of such relations upon the affairs of such bank; and in the event of the refusal to give any information required in the course of the examination of any such affiliate, or in the event of the refusal to permit such examination, all the rights, privileges, and franchises of the bank shall be subject to forfeiture in accordance with section 2 of the Federal Reserve Act, as amended (U.S.C., title 12, secs. 141, 222–225, 281–286, and 502).11 See References in Text note below. The Comptroller of the Currency shall have power, and he is authorized, to publish the report of his examination of any national banking association or affiliate which shall not within one hundred and twenty days after notification of the recommendations or suggestions of the Comptroller, based on said examination, have complied with the same to his satisfaction. Ninety days’ notice prior to such publicity shall be given to the bank or affiliate.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 481
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Federal law — U.S. Code and appendices · legal_authorities
The Act entitled “An Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,” approved June 3, 1864, shall be known as “The National Bank Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 38
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Bank reserves**
(1)
(A) Except as provided in paragraph (2) of this subsection, sections 371a,11 See References in Text note below. 371b, 371b–1,1 374, 374a, 461, 464, and 465 of this title shall apply to every Federal branch and Federal agency of a foreign bank in the same manner and to the same extent as if the Federal branch or Federal agency were a member bank as that term is defined in [section 221 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section221&num=0&edition=prelim); but the Board either by general or specific regulation or ruling may waive the minimum and maximum reserve ratios prescribed under sections 461, 463, 464, 465, and 466 of this title and may prescribe any ratio, not more than 22 per centum, for any obligation of any such Federal branch or Federal agency that the Board may deem reasonable and appropriate, taking into consideration the character of business conducted by such institutions and the need to maintain vigorous and fair competition between and among such institutions and member banks. The Board may impose reserve requirements on Federal branches and Federal agencies in such graduated manner as it deems reasonable and appropriate.
(B) After consultation and in cooperation with the State bank supervisory authorities, the Board may make applicable to any State branch or State agency any requirement made applicable to, or which the Board has authority to impose upon, any Federal branch or agency under subparagraph (A) of this paragraph.
(2) A branch or agency shall be subject to this subsection only if (A) its parent foreign bank has total worldwide consolidated bank assets in excess of $1,000,000,000; (B) its parent foreign bank is controlled by a foreign company which owns or controls f
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 3105
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Federal law — U.S. Code and appendices · legal_authorities
Page 174
TITLE 12—BANKS AND BANKING
§ 483
be set to meet the Comptroller’s expenses in car-
rying out authorized activities.
(R.S. § 5240 (pars.); Feb. 19, 1875, ch. 89, 18 Stat.
329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; July 2,
1932, ch. 392, 47 Stat. 568; Aug. 23, 1935, ch. 614,
title III, § 343, 49 Stat. 722; Apr. 30, 1956, ch. 228,
§§ 2, 3, 70 Stat. 124; Pub. L. 101–73, title XII, § 1202,
Aug. 9, 1989, 103 Stat. 520; Pub. L. 102–242, title I,
§ 114(a), Dec. 19, 1991, 105 Stat. 2248; Pub. L.
102–550, title XVI, § 1603(b)(5), Oct. 28, 1992, 106
Stat. 4079; Pub. L. 103–325, title III, § 331(b)(1),
Sept. 23, 1994, 108 Stat. 2232; Pub. L. 111–203, title
III, § 318(a)(2), July 21, 2010, 124 Stat. 1526.)
Editorial Notes
REFERENCES IN TEXT
Provisions of section 481 of this title, referred to in
first par., was in the original ‘‘preceding provisions of
this section’’, meaning R.S. § 5240. See Codification note
set out below.
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 third and fourth pars. of R.S.
§ 5240, as amended. The former fifth par. of R.S. § 5440,
which comprised the third par. of this section, was re-
pealed by Pub. L. 102–242. See Codification note set out
under section 481 of this title.
AMENDMENTS
2010—Pub. L. 111–203, in first sentence of first par.,
substituted ‘‘shall, subject to chapter 71 of title 5, fix’’
for ‘‘shall fix’’.
1994—Pub. L. 103–325 inserted ‘‘or section 301(f)(1) of
title 31’’ after ‘‘provisions of section 481 of this title’’.
1992—Pub. L. 102–550 substituted ‘‘office’’ for ‘‘duties’’
in second par.
1991—Pub. L. 102–242 added second par. and struck out
former second and th
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 483
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