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12 USC § 247a - Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress 

---
identifier: "/us/usc/t12/s247a"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 247a - Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "247a"
section_name: "Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "II"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 10 (par.), as added Aug. 23, 1935, ch. 614, title II, § 203(d), 49 Stat. 705.)"
---

# § 247a. Records of action on policy relating to open-market operation and policies determined generally; inclusion in report to Congress

The Board of Governors of the Federal Reserve System shall keep a complete record of the action taken by the Board and by the Federal Open Market Committee upon all questions of policy relating to open-market operations and shall record therein the votes taken in connection with the determination of open-market policies and the reasons underlying the action of the Board and the Committee in each instance. The Board shall keep a similar record with respect to all questions of policy determined by the Board, and shall include in its annual report to the Congress a full account of the action so taken during the preceding year with respect to open-market policies and operations and with respect to the policies determined by it and shall include in such report a copy of the records required to be kept under the provisions of this section.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 10 (par.), as added Aug. 23, 1935, ch. 614, title II, § 203(d), 49 Stat. 705.)

## Editorial Notes

### Codification

Section is comprised of tenth par. of section 10 of act , as added . For classification to this title of other pars. of section 10, see Codification note set out under .