Frequently Asked Questions on the Board’s Rules Regarding Delegation of Authority
Staff of the Board of Governors of the Federal Reserve System has developed the following frequently asked questions (FAQs) and answers on the Board's Rules Regarding Delegation of Authority. Except as noted below, these FAQs are staff interpretations and have not been approved by the Board of Governors. Staff may supplement or revise these FAQs as necessary or appropriate in the future. Any questions regarding these FAQs, or requests for modification, rescission, or waiver, should be submitted through the Board's Contact Us form.
In General
Q1: How does the Board maintain its list of delegated functions?
Subpart A—General Provisions
12 CFR 265.2 Delegations of functions generally.
In General
Q1: How does the Board maintain its list of delegated functions?
A1: Under section 11(k) of the Federal Reserve Act ("Section 11(k)"), the Board generally may "delegate, by published order or rule and subject to the Administrative Procedure Act, any of its functions, other than those relating to rulemaking or pertaining principally to monetary and credit policies, to one or more administrative law judges, members or employees of the Board, or Federal Reserve banks" (12 U.S.C. § 248(k)). In 12 CFR part 265, the Board maintains a list of delegated functions by delegatee and sets out general provisions on delegation of authority.
Posted: 6/30/2025
Subpart A—General Provisions
12 CFR 265.2 Delegations of functions generally.
Q1: The Board has delegated certain of its functions to individual Board members and employees. What is the process for action under delegated authority when one of these offices is vacant?
A1: Section 11(k) specifies that "[t]he assignment of responsibility for the performance of any function that the Board determines to delegate shall be a function of" the Chair (id.; see also 12 CFR 265.2(b)). This responsibility includes, in the case where a delegatee that is a Board member or employee resigns, or when a delegatee's term of office ends, the ability of the Chair to assign temporarily the performance of the delegated function to another Board member, employee, or group of Board members or employees.
Posted: 6/30/2025