12 U.S.C. § 248–1
Rules and regulations for transfer of funds and charges therefor among banks; clearing houses
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 248–1, Rules and regulations for transfer of funds and charges therefor among banks; clearing houses, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437250
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Full text
The Board of Governors of the Federal Reserve System shall make and promulgate from time to time regulations governing the transfer of funds and charges therefor among Federal reserve banks and their branches, and may at its discretion exercise the functions of a clearing house for such Federal reserve banks, or may designate a Federal reserve bank to exercise such functions, and may also require each such bank to exercise the functions of a clearing house for depository institutions.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Depository Institutions Deregulation and Monetary Control Act of 1980House: no recorded tallySenate: no recorded tally