2020 US Code
Title 12 - Banks and Banking
Chapter 3 - Federal Reserve System
Subchapter XIV - Bank Reserves
Sec. 464 - Checking against and withdrawal of reserve balance
| 12 U.S.C. § 464 (2020) |
| §464. Checking against and withdrawal of reserve balance |
|
The required balance carried by a member bank with a Federal reserve bank may, under the regulations and subject to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities. |
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(Dec. 23, 1913, ch. 6, §19(f), formerly §19 (par. 9), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, §10, 40 Stat. 239; Aug. 23, 1935, ch. 614, title II, §203(a), 49 Stat. 704; July 7, 1942, ch. 488, §3, 56 Stat. 648; renumbered §19(f), Pub. L. 89–597, §2(b), Sept. 21, 1966, 80 Stat. 824.) |
| EDITORIAL NOTES
CODIFICATION
Section is comprised of subsec. (f), formerly ninth par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597. AMENDMENTS1942—Act July 7, 1942, struck out proviso which prohibited making new loans or paying dividends until required balance was restored. STATUTORY NOTES AND RELATED SUBSIDIARIES CHANGE OF NAME Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System. |
| United States Code, 2018 Edition, Supplement 2, 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. 464 - Checking against and withdrawal of reserve balance |
| section 464 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 38 Stat. 270, 691 40 Stat. 239 49 Stat. 704 56 Stat. 648 80 Stat. 824 |
| Public Law 89-597 |
