FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER XIV—BANK RESERVES
Checking against and withdrawal of reserve balance
12 U.S.C. § 464
Title12 — Banks and Banking
ChapterSUBCHAPTER XIV—BANK RESERVES
This text of 12 U.S.C. § 464 (Checking against and withdrawal of reserve balance) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 464.
Text
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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.
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Source Credit
History
(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
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.
Amendments
1942—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.
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.
Amendments
1942—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.
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Bluebook (online)
12 U.S.C. § 464, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/464.