22 U.S.C. § 290g–5

Federal Reserve banks as depository for the Fund; supervision

Any Federal Reserve bank which is requested to do so by the President shall act as a depository for the Fund, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks.

( Pub. L. 94–302, title II, § 207 , May 31, 1976 , 90 Stat. 594 .)