2020 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter XV - Bank Examinations
Sec. 486 - Waiver of requirements as to reports from or examinations of affiliates
| 12 U.S.C. § 486 (2020) |
| §486. Waiver of requirements as to reports from or examinations of affiliates |
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Whenever member banks are required to obtain reports from affiliates, or whenever affiliates of member banks are required to submit to examination, the Board of Governors of the Federal Reserve System or the Comptroller of the Currency, as the case may be, may waive such requirements with respect to any such report or examination of any affiliate if in the judgment of the said Board or Comptroller, respectively, such report or examination is not necessary to disclose fully the relations between such affiliate and such bank and the effect thereof upon the affairs of such bank. |
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(Dec. 23, 1913, ch. 6, §21 (par.), as added Aug. 23, 1935, ch. 614, title III, §325, 49 Stat. 715.) |
| EDITORIAL NOTES
CODIFICATION
This section was not enacted as part of R.S. §5240 which comprises this subchapter. Act Dec. 23, 1913, derived from R.S. §5240. STATUTORY NOTES AND RELATED SUBSIDIARIES EXCEPTION AS TO TRANSFER OF FUNCTIONS Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. |
| United States Code, 2018 Edition, Supplement 2, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER XV - BANK EXAMINATIONS Sec. 486 - Waiver of requirements as to reports from or examinations of affiliates |
| section 486 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 49 Stat. 715 |
