---
kind: "section"
citation: "12 U.S.C. § 248b"
title: "12"
title_heading: "Banks and Banking"
number: "248b"
heading: "Annual independent audits of Federal reserve banks and Board"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/248b"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter II — Board of Governors of the Federal Reserve System"
---

# §248b. Annual independent audits of Federal reserve banks and Board


The [Board](/usc/12/221a.md?p=a) shall order an annual independent audit of the financial statements of each Federal [reserve bank](/usc/12/221a.md?p=a) and the [Board](/usc/12/221a.md?p=a).


## Source credit

(Dec. 23, 1913, ch. 6, § 11B, as added Pub. L. 106–102, title VII, § 726, Nov. 12, 1999, 113 Stat. 1475.)