(A) The purpose of these regulations
is to set out specific policies and procedures necessary for the exercise
of federal law enforcement authority by personnel of the Board of
Governors of the Federal Reserve System (“the Board”) and the 12 Federal
Reserve Banks (“the Reserve Banks”) (collectively, “the Federal Reserve”).
These regulations apply only to those personnel designated by the
Board or a Reserve Bank to act as law enforcement officers pursuant
to the authority given the Board by section 11(q) of the Federal Reserve
Act and pursuant to the authority delegated to the Reserve Banks by
the Board. Nothing in these regulations shall be construed to restrict
in any way authority granted to personnel of any Reserve Bank pursuant
to state or local law or other federal laws.
(B)
These regulations are intended to establish basic uniform policies
and procedures governing the exercise of federal law enforcement authority
and apply only to Federal Reserve employees. It is both anticipated
and expected that the Board and each Reserve Bank will adopt specific
policies and procedures, consistent with these regulations, appropriate
to the unique needs of their facilities and personnel.
(C) These regulations are set forth solely for the purpose
of internal Federal Reserve guidance. Nothing in these regulations
is intended to create, or does create, an enforceable legal right
or private right of action and these regulations do not place any
limitations on otherwise lawful activities of the Federal Reserve.
