12 U.S.C. § 5614 — Exercise of Federal Reserve authority
submitted 16 years ago by Pub. L. 111-203 to r/title-12-BANKS-AND-BANKING · 81 words · no verdicts yet
Subchapter I gives Federal Reserve Bank presidents no decision-making authority over the Board of Governors. The Board may not improperly delegate its required voting decisions.
(1) No decisions by Federal Reserve Bank presidents. Subchapter I provisions about the Board’s authority do not give decision-making power to Federal Reserve Bank presidents. (2) Voting decisions by Board. The Board may not delegate a voting decision that subchapter I authorizes or requires it to make in violation of section 248(k).
No provision of subchapter I relating to the authority of the Board of Governors shall be construed as conferring any decision-making authority on presidents of Federal reserve banks.
The Board of Governors shall not delegate the authority to make any voting decision that the Board of Governors is authorized or required to make under subchapter I of this chapter in contravention of section 248(k) of this title.
Source credit: (Pub. L. 111–203, title XI, § 1108(d), July 21, 2010, 124 Stat. 2127.)
- 2010Enacted · Pub. L. 111-203 · 124 Stat. 2127
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 2010-07-21.
all 0 arguments · sorted by: best
no arguments yet — make the first case