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  4. SECTION 5
8-013

SECTION 5—Delegations of Authority

The Board does not delegate any of its functions relating to rulemaking or pertaining principally to monetary or credit policies or involving any questions of general policy. However, the Board delegates certain of its supervisory and other functions prescribed by statute or Board regulation to its members or employees or to the Federal Reserve Banks as provided in its Rules Regarding Delegation of Authority (12 CFR 265) and in specific Board actions. In addition, the Board delegates to the Federal Reserve Banks certain functions not provided for by statute or Board regulation, including authority to extend the time within which certain transactions may be consummated.
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