2016 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter XIV - Bank Reserves
Sec. 463 - Limitation on amount of balance with any depository institution without access to Federal Reserve advances
12 U.S.C. § 463 (2016) |
§463. Limitation on amount of balance with any depository institution without access to Federal Reserve advances |
No member bank shall keep on deposit with any depository institution which is not authorized to have access to Federal Reserve advances under section 347b 1 of this title a sum in excess of 10 per centum of its own paid-up capital and surplus. |
(Dec. 23, 1913, ch. 6, §19(e), formerly §19 (par. 8), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, §10, 40 Stat. 239; renumbered §19(e), Pub. L. 89–597, §2(b), Sept. 21, 1966, 80 Stat. 824; Pub. L. 96–221, title I, §105(e), Mar. 31, 1980, 94 Stat. 140.) |
REFERENCES IN TEXT
Section 347b of this title, referred to in text, was in the original a reference to section 10(b) of this Act, meaning section 10(b) of the Federal Reserve Act. Section 10(b) of that Act was renumbered section 10B by Pub. L. 102–242, title I, §142(a)(2), Dec. 19, 1991, 105 Stat. 2279, without a corresponding amendment to this section. CODIFICATIONSection is comprised of part of subsec. (e), formerly eighth par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597. Remainder of subsec. (e) of such section 19 is classified to section 374 of this title. AMENDMENTS1980—Pub. L. 96–221 substituted provisions limiting amount of balance required to be kept with any depository institution without access to Federal Reserve advances, for provisions limiting amount of balance required to be kept with any State bank or trust company. EFFECTIVE DATE OF 1980 AMENDMENTAmendment by Pub. L. 96–221 effective on first day of sixth month which begins after Mar. 31, 1980, see section 108 of Pub. L. 96–221, set out as a note under section 248 of this title. |
1 See References in Text note below. |
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 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER XIV - BANK RESERVES Sec. 463 - Limitation on amount of balance with any depository institution without access to Federal Reserve advances |
section 463 |
2016 |
January 6, 2017 |
No |
standard |
38 Stat. 270, 691 40 Stat. 239 80 Stat. 824 94 Stat. 140 |
Public Law 89-597, Public Law 96-221, Public Law 102-242 |