---
kind: "section"
citation: "12 U.S.C. § 246"
title: "12"
title_heading: "Banks and Banking"
number: "246"
heading: "Powers of Secretary of the Treasury as affected by chapter"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/246"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter II — Board of Governors of the Federal Reserve System"
---

# §246. Powers of Secretary of the Treasury as affected by chapter


Nothing in this chapter contained shall be construed as taking away any powers heretofore vested by law in the [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury which relate to the supervision, management, and control of the Treasury Department and [bureaus](/usc/12/5481.md?p=2) under such department, and wherever any power vested by this chapter in the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System or the Federal reserve agent appears to conflict with the powers of the [Secretary](/usc/12/1715z–22a.md?p=4) of the Treasury, such powers shall be exercised subject to the supervision and control of the [Secretary](/usc/12/1715z–22a.md?p=4).


## Source credit

(Dec. 23, 1913, ch. 6, § 10 (par.), 38 Stat. 261; June 3, 1922, ch. 205, 42 Stat. 621; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

## Notes

### Editorial Notes

### References in Text

This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.

### Codification

Section is comprised of sixth par. of section 10 of act Dec. 23, 1913. For classification to this title of other pars. of section 10, see Codification note set out under section 241 of this title.

### Statutory Notes and Related Subsidiaries

### Change of Name

Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.