§ 122a. Redeemed notes of unidentifiable issue; funds charged against

Footnotes

1. 1 See References in Text note below.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1933

   Pub. L. 73–62 § 2 · 48 Stat. 127

   Enacted · 12 U.S.C. § 122a

   June 13, 1933, ch. 62, § 2, 48 Stat. 128

   Source evidence

   Code source credit
   June 13, 1933, ch. 62, § 2, 48 Stat. 128

   Enacted provision · exact public law section
   Sec. 2. Sums charged against deposits for retirement of national bank, etc., notes. Vol. 26, p. 289. U.S.C., p. 267. National-bank notes and Federal Reserve bank notes redeemed by the Treasurer of the United States under this Act shall be charged against the balance of deposits for the retirement of national-bank notes and Federal Reserve bank notes under the provisions of section 6 of the Act entitled “An Act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes”, approved July 14, 1890 (U.S.C., title 12, Vol. 38, p. 268. U.S.C., p. 286. sec. 122), and section 18 of the Federal Reserve Act (U.S.C., title 12, sec. 445); and charges for Federal Reserve notes redeemed by the Treasurer of the United States under this Act shall be apportioned Distribution of charges. among the twelve Federal Reserve banks in proportion to the amount of Federal Reserve notes of each Federal Reserve bank in circulation on the 31st day of December of the year preceding the date of redemption, and the amount so apportioned to each bank shall be charged by the Treasurer of the United States against deposit in the gold-redemption fund made by such bank or its Federal Reserve agent.

2. 1966

   Pub. L. 89–427 § 4(b) · 80 Stat. 161

   Substituted · 12 U.S.C. § 122a

   Pub. L. 89–427 substituted provisions allowing the Board of Governors of the Federal Reserve System to determine the proper apportioning between the Federal Reserve banks of the charges for the redemption by the Treasurer of the United States of Federal Reserve notes that are unidentifiable as to bank of issue for provisions that set out the exact formula for determining the proper apportioning of charges using a proportion based upon the amount of Federal Reserve notes of each Federal Reserve bank in circulation in the 31st day of December of the year preceding the date of redemption, with the amount apportioned under the formula charged by the Treas­urer of the United States against deposit in the gold-redemption fund made by the bank or its Federal Reserve agent

   Source evidence

   Code amendment note
   Pub. L. 89–427 substituted provisions allowing the Board of Governors of the Federal Reserve System to determine the proper apportioning between the Federal Reserve banks of the charges for the redemption by the Treasurer of the United States of Federal Reserve notes that are unidentifiable as to bank of issue for provisions that set out the exact formula for determining the proper apportioning of charges using a proportion based upon the amount of Federal Reserve notes of each Federal Reserve bank in circulation in the 31st day of December of the year preceding the date of redemption, with the amount apportioned under the formula charged by the Treas­urer of the United States against deposit in the gold-redemption fund made by the bank or its Federal Reserve agent.

   Enacted provision · exact public law section
   (b) Section 2 of such Act (12 U.S.C. 122a) is amended by changing “in proportion to the amount of Federal Reserve notes of each Federal Reserve bank in circulation on the 31st day of December of the year preceding the date of redemption, and the amount so apportioned to each bank shall be charged by the Treasurer of the United States against deposit in the gold-redemption fund made by such bank or its Federal Reserve agent” to read “as determined by the Board of Governors of the Federal Reserve System”.

3. 1994

   Riegle Community Development and Regulatory Improvement Act of 1994

   Pub. L. 103–325 title VI § 602(g)(8)(B) · 108 Stat. 2160

   Struck · 12 U.S.C. § 122a

   Pub. L. 103–325 struck out “National-bank notes and” before “Federal Reserve bank notes redeemed” and “national-bank notes and” after “deposits for the retirement of”

   Source evidence

   Code amendment note
   Pub. L. 103–325 struck out “National-bank notes and” before “Federal Reserve bank notes redeemed” and “national-bank notes and” after “deposits for the retirement of”.

   Enacted provision · exact public law section
   (B) in section 2 (12 U.S.C. 122a)— (i) by striking “National-bank notes and”; and (ii) by striking “national-bank notes and”.

3 of 3 references resolved to an enrolled provision