Title 12 — Banks and Banking
Chapter 3 — Federal Reserve System
§ 465. Basis for ascertaining deposits against which required balance is determined
Statutory text
In estimating the reserve balances required by this chapter, member banks may deduct from the amount of their gross demand deposits the amounts of balances due from other banks (except Federal Reserve banks and foreign banks) and cash items in process of collection payable immediately upon presentation in the United States, within the meaning of these terms as defined by the Board of Governors of the Federal Reserve System.
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(g) · 38 Stat. 103
Enacted · 12 U.S.C. § 465
Dec. 23, 1913, ch. 6, § 19(g), formerly § 19 (par. 10), 38 Stat. 270
Source evidence
Code source credit
Dec. 23, 1913, ch. 6, § 19(g), formerly § 19 (par. 10), 38 Stat. 270
0 of 1 references resolved to an enrolled provision · 1 partial
Editorial Notes
References in Text
This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
Codification
Section is comprised of subsec. (g), formerly tenth par., of section 19 of act , as redesignated by Pub. L. 89–597.
Amendments
1935—Act , changed method of estimating reserve balances.
Credits
1913–1966 · 5 acts
- 1913Dec. 23, 1913, ch. 6, § 19(g), formerly § 19 (par. 10), 38 Stat. 270
- 1914Aug. 15, 1914, ch. 252, 38 Stat. 692
- 1917June 21, 1917, ch. 32, § 10, 40 Stat. 240
- 1935Aug. 23, 1935, ch. 614, title III, § 324(b), 49 Stat. 714
- 1966renumbered § 19(g), Pub. L. 89–597, § 2(b), , 80 Stat. 824.
Show as published
(Dec. 23, 1913, ch. 6, § 19(g), formerly § 19 (par. 10), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 692; June 21, 1917, ch. 32, § 10, 40 Stat. 240; Aug. 23, 1935, ch. 614, title III, § 324(b), 49 Stat. 714; renumbered § 19(g), Pub. L. 89–597, § 2(b), , 80 Stat. 824.)