---
kind: "unit"
title: "12"
title_heading: "Banks and Banking"
key: "ch3/schII"
level: "subchapter"
label: "Subchapter II"
heading: "Board of Governors of the Federal Reserve System"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/ch3-schII"
sections_count: 19
---

# Subchapter II — Board of Governors of the Federal Reserve System

Title 12 — Banks and Banking › Chapter 3 — Federal Reserve System

## Sections

- [§241. Creation; membership; compensation and expenses](/usc/12/241.md)
- [§242. Ineligibility to hold office in member banks; qualifications and terms of office of members; chairman and vice chairman; oath of office](/usc/12/242.md)
- [§243. Assessments upon Federal reserve banks to pay expenses](/usc/12/243.md)
- [§244. Principal offices of Board; chairman of Board; obligations and expenses; qualifications of members; vacancies](/usc/12/244.md)
- [§245. Vacancies during recess of Senate](/usc/12/245.md)
- [§246. Powers of Secretary of the Treasury as affected by chapter](/usc/12/246.md)
- [§247. Reports to Congress](/usc/12/247.md)
- [§247a. Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress](/usc/12/247a.md)
- [§247b. Appearances before Congress](/usc/12/247b.md)
- [§248. Enumerated powers](/usc/12/248.md)
- [§248–1. Rules and regulations for transfer of funds and charges therefor among banks; clearing houses](/usc/12/248-1.md)
- [§248a. Pricing of services](/usc/12/248a.md)
- [§248b. Annual independent audits of Federal reserve banks and Board](/usc/12/248b.md)
- [§248c. Master account and services database](/usc/12/248c.md)
- [§249. Repealed.](/usc/12/249.md)
- [§250. Independence of financial regulatory agencies](/usc/12/250.md)
- [§251. Repealed.](/usc/12/251.md)
- [§252. Credit availability assessment](/usc/12/252.md)
- [§253. Open data publication by the Board of Governors](/usc/12/253.md)