12 U.S.C. § 247

Reports to Congress

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The Board of Governors of the Federal Reserve System shall annually make a full report of its operations to the Speaker of the House of Representatives, who shall cause the same to be printed for the information of the Congress. The report required under this paragraph shall include the reports required under section 1691f of title 15, section 57a(f)(7) 11 See References in Text note below. of title 15, section 1613 of title 15, and section 247a of this title.

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 1964–2024 · leading case: Merrill v. Fed. Open Mkt. Comm., Etc., 413 F. Supp. 494 (D.D.C. 1976).

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Merrill v. Fed. Open Mkt. Comm., Etc., 413 F. Supp. 494 (D.D.C. 1976). “This conclusion is supported by 40 years of practice of the FOMC and the Board of Governors in submitting policy records to Congress each year, by the provisions of 12 U.S.C. § 247 , and more recently by the practice of publishing the Directive and referencing the Records of…”

Bryan v. Fed. Open Mkt. Comm., 235 F. Supp. 877 (D. Mont. 1964). “The Board of Governors of the Federal Reserve System is required to file an annual report with Congress which includes “a full account of the action so taken during the preceding year with respect to open-market policies and operations * * * ”.”

Daisey Trust v. Fed. Hous. Fin. Agency (D. Nev. 2024). “12 U.S.C. § 247 . The 20 dissent describes the Board as “a unique institution with a unique historical background” related to financial panics “that were widely attributed to the country’s lack of a national bank.”

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