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The statute provides specific instructions regarding bank examinations, the acceptance of state examinations, and the ordering of special examinations. While discretion is afforded to the Board, the statute identifies specific regulatory tasks relating to oversight and examination of banks.
While the statute contains some broad language, it primarily provides specific instructions to the Board of Governors regarding the regulation of state member banks. For example, the statute mandates specific compliance requirements, requires at least three annual reports, and then authorizes the Board to set reporting dates and determine report content. The statute also specifies penalties for non-compliance and outlines procedures for assessment and hearings. The authority delegated is specific to the task of regulating these banks and ensuring their compliance with certain financial standards and reporting requirements, it is not a general “regulate banks as you see fit” delegation.
The statute specifically instructs the Board to fix dates for reports, specify the form and content of the reports, and assess/collect penalties. While the phrase “may require” provides some flexibility, the delegation centers around a specific regulatory task.
The statute clearly instructs the Board of Governors on a specific regulatory task: the examination of member banks. It also specifies the selection and approval of examiners. This level of detail indicates a specific authority delegation.
The statute grants the Board of Governors the authority to conduct examinations of member banks and select/approve the examiners. While the statute is focused on examinations specifically, it doesn’t give specific instructions on how capital adequacy is determined or maintained, granting broad supervisory power, making it a General Authority Delegation.
The statute instructs the Board of Governors of the Federal Reserve System to conduct examinations of member banks, giving a specific regulatory task.
The statute provides authority to the Board of Governors regarding stock subscriptions in Federal Reserve Banks. This is best characterized as general authority because it provides the Board with the power to permit stockholding and to call for payment. However, it does not identify specific regulatory tasks but rather gives it general power related to banks becoming stockholders of the Federal Reserve Banks. The statute mentions ‘subject to the provisions of this chapter’, pointing to other provisions within the Federal Reserve Act to inform the Board’s decisions but this is not a ‘specific’ delegation to close a particular regulatory gap.
The statute instructs the Board of Governors on a specific regulatory task, which is managing the process of banks becoming stockholders in Federal Reserve banks. It dictates when stock subscriptions are payable (“on call of the Board”) and that the stock is subject to the chapter’s provisions.
The statute gives the Board of Governors of the Federal Reserve System specific instructions regarding the reports of condition. It states, “Such reports of condition shall be in such form and shall contain such information as the Board of Governors of the Federal Reserve System may require.” This provides clear instructions on a specific regulatory task.
While the statute mandates compliance with capital requirements and grants the Board authority to determine the form and content of reports, it specifically identifies the regulatory tasks related to capital adequacy and reporting. It gives the Board of Governors of the Federal Reserve System the power to set the dates for when these reports must be made, and also gives them explicit rule making abilities through the statement “Such reports of condition shall be in such form and shall contain such information as the Board of Governors of the Federal Reserve System may require.” This is not a broad grant of authority but a specific directive to create rules for the reports mentioned in the statute.
The statute gives the Board of Governors of the Federal Reserve System specific instructions regarding the information to be reported by member banks (“Such reports of condition shall be in such form and shall contain such information as the Board of Governors of the Federal Reserve System may require.”) and empowers them to set the dates for these reports. This grants a relatively specific regulatory task to the agency.
The statute specifically instructs the Board to consider financial condition, management character, and consistency with chapter purposes. Although these terms are open-ended, they provide specific areas for the Board to focus on when reviewing applications. Therefore, it falls under specific authority delegation, even with the use of terms that require agency interpretation.
The statute specifically instructs the Board of Governors to consider “the financial condition of the applying bank, the general character of its management, and whether or not the corporate powers exercised are consistent with the purposes of this chapter.” This clearly delineates the regulatory task, even with the use of somewhat open-ended terms like “general character.”
The statute gives the Board of Governors authority over the stock subscriptions of banks that apply to become stockholders in the Federal Reserve bank. This is because it provides the agency with control over membership in the federal reserve system and payment for these subscriptions, especially regarding when these payments can be called. This falls under Kristin Hickman’s Specific Authority delegation because it clearly instructs the agency on a specific regulatory task.
The statute provides specific instructions regarding the conditions under which the Board can allow a bank to become a stockholder and how the stock subscription is payable. While the term “permit” leaves some discretion, it relates to a specific regulatory task related to stock issuance and payment for member banks, thus falling under the “Specific Authority” category.
While the statute mentions stock subscriptions and holding subject to the provisions of the chapter, it doesn’t specifically instruct the agency on how to regulate capital adequacy. Rather, it provides broad authority related to stockholding, within which the Board may find basis for related regulation.
The statute provides specific instructions concerning membership applications, stock subscriptions, branch retention/establishment, and the Board’s approval role. Although terms like “such conditions as it may prescribe” offer some discretion, the delegation is focused on the specific regulatory task of managing Federal Reserve System membership.
The statute explicitly instructs the agency (Board of Governors) to prescribe rules and regulations for membership applications. Although seemingly broad, “rules and regulations” in this context clearly refers to the process of application for membership, which can be considered a specific regulatory task.
The statute specifically instructs the Board of Governors on the regulatory task of prescribing rules and regulations for banks applying for membership in the Federal Reserve System. While the terms “rules and regulations as it may prescribe” are open-ended, the overall task is specifically defined.
The statute provides a list of specific factors that the Board of Governors of the Federal Reserve System must consider when acting upon applications. Even though the terms are broad (“financial condition,” “general character of its management”), they are nonetheless instructions about specific regulatory tasks.
While seemingly broad at first glance, the statute “instructs” the agency on a “specific” regulatory gap: determining the consistency of corporate powers with the chapter’s purposes when considering applications. It mandates consideration of financial condition and management, acting as specific criteria.
The statute provides the Board with broad authority to prescribe “such rules and regulations as it may prescribe” regarding applications for membership. This is a broad grant of rulemaking authority, rather than a specific regulatory task or gap identified by Congress.
The statute specifically instructs the Board of Governors to create rules and regulations concerning the application process for state banks to become members of the Federal Reserve System, and for branch establishments. While the terms used are somewhat open-ended (e.g., “under such rules and regulations as it may prescribe”), the statute clearly identifies a specific regulatory task.
While the statute outlines the process for state banks to apply for membership, the phrase “under such rules and regulations as it may prescribe” provides the Board of Governors with broad discretion to determine the specific requirements and procedures for these applications. There is no specific regulatory task, but rather a broad directive.
The statute directs the Board of Governors on the specific task of creating “rules and regulations” concerning applications for membership into the Federal Reserve System.