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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 464 Checking against and withdrawal of reserve balance us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 464 12 U.S.C. § 464 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s464 data/legal/raw/us/code/title-12/usc12.xml 37b93f2f469e73fb9b9335e3b5fce1c70ccbb11c80591c6f653d8a5ff664585d e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa d5a056aaf1ca297939722b2f7c1b75faa6b701da64927cea815dc6c4713dc02d 2026-07-04 official
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12 U.S.C. § 464 - Checking against and withdrawal of reserve balance

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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.

(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. 89597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)

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. 89597.

Amendments1942—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.