2016 US Code
Title 12 - Banks and Banking
Chapter 2 - National Banks
Subchapter VIII - Reserve Cities; Lawful Reserves
Sec. 144 - Certain balances counted toward reserves in dependencies and insular possessions
| 12 U.S.C. § 144 (2016) |
| §144. Certain balances counted toward reserves in dependencies and insular possessions |
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Four-fifths of the reserve of 15 per centum which a national bank located in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal Reserve System, is required to keep, may consist of balances due such bank from associations approved by the Comptroller of the Currency and located in any one of the reserve cities as now or hereafter defined by law or designated by the Board of Governors of the Federal Reserve System. |
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(R.S. §5192; July 1, 1952, ch. 536, 66 Stat. 314; Pub. L. 86–70, §7, June 25, 1959, 73 Stat. 142; Pub. L. 86–114, §3(b)(3), July 28, 1959, 73 Stat. 263.) |
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CODIFICATION
R.S. §5192 derived from act June 3, 1864, ch. 106, §31, 13 Stat. 108, which was the National Bank Act. See section 38 of this title. AMENDMENTS1959—Pub. L. 86–114 struck out "central reserve or" before "reserve cities". Pub. L. 86–70 struck out "in Alaska or" before "in a dependency". 1952—Act July 1, 1952, reduced the required amount of cash on hand from two-fifths to one-fifth of the required reserve of 15 per centum. EFFECTIVE DATE OF 1959 AMENDMENTAmendment by Pub. L. 86–114 effective three years after July 28, 1959, see section 3(b) of Pub. L. 86–114, set out as a Central Reserve and Reserve Cities note under former section 141 of this title. EXCEPTION AS TO TRANSFER OF FUNCTIONSFunctions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title. |
| United States Code, 2012 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 2 - NATIONAL BANKS SUBCHAPTER VIII - RESERVE CITIES; LAWFUL RESERVES Sec. 144 - Certain balances counted toward reserves in dependencies and insular possessions |
| section 144 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 13 Stat. 108 66 Stat. 314 73 Stat. 142, 263 |
| Public Law 86-70, Public Law 86-114 |
