---
kind: "section"
citation: "12 U.S.C. § 3301"
title: "12"
title_heading: "Banks and Banking"
number: "3301"
heading: "Declaration of purpose"
release: "119-102"
url: "https://uscodex.org/usc/12/3301"
units:
  - "Chapter 34 — Federal Financial Institutions Examination Council"
---

# §3301. Declaration of purpose


It is the purpose of this chapter to establish a [Financial Institutions](/usc/12/3302.md?p=3) Examination [Council](/usc/12/3302.md?p=2) which shall prescribe uniform principles and standards for the Federal examination of [financial institutions](/usc/12/3302.md?p=3) by the [Office](/usc/12/2279bb.md?p=4) of the Comptroller of the Currency, the Federal [Deposit](/usc/12/5301.md?p=18-A) Insurance [Corporation](/usc/12/2277a.md?p=2), the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System, the [Federal Home Loan Bank](/usc/12/1426a.md?p=g-1) [Board](/usc/12/221a.md?p=a), and the National [Credit Union](/usc/12/3423.md?p=a-1-E) Administration and make recommendations to promote uniformity in the supervision of these [financial institutions](/usc/12/3302.md?p=3). The [Council](/usc/12/3302.md?p=2)’s actions shall be designed to promote consistency in such examination and to insure progressive and vigilant supervision.


## Source credit

(Pub. L. 95–630, title X, § 1002, Nov. 10, 1978, 92 Stat. 3694.)

## Notes

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective upon the expiration of 120 days after Nov. 10, 1978, see section 2101 of Pub. L. 95–630, set out as a note under section 375b of this title.

### Short Title

Pub. L. 95–630, title X, § 1001, Nov. 10, 1978, 92 Stat. 3694, provided that: “This title [enacting this chapter and amending section 67 of former Title 31, Money and Finance] may be cited as the ‘Federal Financial Institutions Examination Council Act of 1978’.”

### Transfer of Functions

Federal Home Loan Bank Board abolished and functions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title.