Volume 79 · 5
Public Law 89–3
To eliminate the requirement that Federal Reserve banks maintain certain reserves in gold certificates against deposit liabilities.
Approved March 3, 1965
Statutory text
AN ACT
To eliminate the requirement that Federal Reserve banks maintain certain reserves in gold certificates against deposit liabilities.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
That the first sentence
Federal Reserve banks.
Gold certificates.
of the third paragraph of section 16 of the Federal Reserve Act, as amended (12 U.S.C. 413), is further amended by striking out “reserves in gold certificates of not less than 25 per centum against its deposits and”.
Sec. 2.
The eighteenth paragraph of section 16 of the Federal Reserve Act, as amended (12 U.S.C. 467), is further amended by substituting
48 Stat. 340.
a period for the comma after the word “notes” and striking out the remainder of the paragraph.
Approved March 3, 1965.