Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 464. Checking against and withdrawal of reserve balance
Statutory 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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.
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.
Pub. L. 63–6 § 19(f) · 38 Stat. 103
Enacted · 12 U.S.C. § 464
Dec. 23, 1913, ch. 6, § 19(f), formerly § 19 (par. 9), 38 Stat. 270
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 19(f), formerly § 19 (par. 9), 38 Stat. 270
0 of 1 references resolved to an enrolled provision · 1 partial
Editorial Notes
Codification
Section is comprised of subsec. (f), formerly ninth par., of section 19 of act , as redesignated by Pub. L. 89–597.
Amendments
1942—Act , 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 , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.
Credits
1913–1966 · 6 acts
- 1913Dec. 23, 1913, ch. 6, § 19(f), formerly § 19 (par. 9), 38 Stat. 270
- 1914Aug. 15, 1914, ch. 252, 38 Stat. 691
- 1917June 21, 1917, ch. 32, § 10, 40 Stat. 239
- 1935Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704
- 1942July 7, 1942, ch. 488, § 3, 56 Stat. 648
- 1966renumbered § 19(f), Pub. L. 89–597, § 2(b), , 80 Stat. 824.
Show as published
(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), , 80 Stat. 824.)