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SEC. 10 FEDERAL RESERVE ACT 
banking institution, trust company, or Federal reserve 
bank nor hold stock in any bank, banking institution, or 
trust company; and before entering upon his duties as a 
member of the Federal Reserve Board he shall certify 
ander oath to the Secretary of the Treasury that he has 
complied with this requirement. Whenever a vacancy 
shall occur, other than by expiration of term, among the 
six members of the Federal Reserve Board appointed by 
the President, as above provided, a successor shall be 
appointed by the President, with the advice and consent 
of the Senate, to fill such vacancy, and when appointed 
he shall hold office for the unexpired term of the member 
whose place he is selected to fill. 
The President shall have power to fill all vacancies 
that may happen on the Federal Reserve Board during 
the recess of the Senate by granting commissions which 
shall expire with the next session of the Senate. 
Nothing in this Act contained shall be construed as 
taking away any powers heretofore vested by law in the 
Secretary of the Treasury which relate to the supervision, 
management, and control of the Treasury Department 
and bureaus under such department, and wherever any 
power vested by this Act in the Federal Reserve Board 
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 supervision and control 
of the Secretary. 
The Federal Reserve Board shall annually make a full 
report of its operations to the Speaker of the House of 
Representatives, who shall cause the same to be printed 
for the information of the Congress. 
Section three hundred and twenty-four of the Revised 
Statutes of the United States shall be amended so as to 
read as follows: 
“Spc. 324. There shall be in the Department of the 
Treasury a bureau charged with the execution of all laws 
passed by Congress relating to the issue and regulation 
of national currency secured by United States bonds and, 
under the general supervision of the Federal Reserve 
Board, of all Federal Reserve notes, the chief officer of 
which bureau shall be called the Comptroller of the 
Currency and shall perform his duties under the general 
directions of the Secretary of the Treasury. 
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