---
kind: "section"
citation: "12 U.S.C. § 485"
title: "12"
title_heading: "Banks and Banking"
number: "485"
heading: "Examination of Federal reserve banks"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/485"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter XV — Bank Examinations"
---

# §485. Examination of Federal reserve banks


The [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System shall, at least once each year, order an examination of each Federal [reserve bank](/usc/12/221a.md?p=a), and upon joint application of ten [member banks](/usc/12/221a.md?p=a) the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System shall order a special examination and report of the condition of any Federal [reserve bank](/usc/12/221a.md?p=a).


## Source credit

(R.S. § 5240 (par.); Feb. 19, 1875, ch. 89, 18 Stat. 329; Dec. 23, 1913, ch. 6, § 21, 38 Stat. 272; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704.)

## Notes

### Editorial Notes

### Codification

R.S. § 5240 derived from act June 3, 1864, ch. 106, § 54, 13 Stat. 116, which was part of the National Bank Act. See section 38 of this title.

Section is comprised of seventh par. of R.S. § 5240, as amended. See Codification note set out under section 481 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.