Full text: The Federal reserve act (approved December 23, 1913) as amended to March 4, 1931

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SEC. 21 
FEDERAL RESERVE ACT 
and may at any time direct the holding of a special 
®Xamination of State banks or trust companies that are 
Stockholders in any Federal reserve bank. The exam- 
Ter making the examination of any national bank, or 
of any other member bank, shall have power to make a 
thorough examination of all the affairs of the bank, and 
Dn doing so he shall have power to administer oaths 
nd 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 
“urrency, 
The Federal Reserve Board, upon the recommenda- 
lon of the Comptroller of the Currency, shall fix the 
Salaries of all bank examiners and make report thereof 
0 Congress. The expense of the examinations herein 
Provided for shall be assessed by the Comptroller of the 
vurrency upon the banks examined in proportion to 
i8sets or resources held by the banks upon the dates of 
*Xamination of the various banks. 
In addition to the examinations made and conducted 
oy the Comptroller of the Currency, every Federal re- 
serve bank may, with the approval of the Federal reserve 
gent or the Federal Reserve Board, provide for special 
Sxamination of member banks within its district. The 
®xpense of such examinations may, in the discretion of 
the Federal Reserve Board, be assessed against the banks 
xamined, and, when so assessed, shall be paid by the 
banks examined. Such examinations shall be so con- 
ducted as to inform the Federal reserve bank of the condi- 
Hon of its member banks and of the lines of credit which 
are being extended by them. Every Federal reserve 
dank shall at all times furnish to the Federal Reserve 
Board such information as may be demanded concerning 
the condition of any member bank within the district of 
the said Federal reserve bank. 
No bank shall be subject to any visitatorial powers 
Other than such as are authorized by law, or vested in 
the courts of justice or such as shall be or shall have been 
exercised or directed by Congress, or by either House 
thereof or by any committee of Congress or of either 
House duly authorized. : 
The Federal Reserve Board shall, at least once each 
year, order an examination of each Federal reserve 
bank, and upon joint application of ten member banks 
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