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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. § 465 Basis for ascertaining deposits against which required balance is determined us united_states_code code_section 12 BANKS AND BANKING 3 FEDERAL RESERVE SYSTEM 465 12 U.S.C. § 465 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/s465 data/legal/raw/us/code/title-12/usc12.xml 69db87a7e512c11397d590bad1f2a19563ceb5ac4d78fb42e25ccc82532dd907 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 44adb37756d40d93a41e006a6f50260e44046f17c31be25286a5e98f347ec975 2026-07-04 official
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12 U.S.C. § 465 - Basis for ascertaining deposits against which required balance is determined

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.

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

Notes

Editorial Notes

References in TextThis 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 Dec. 23, 1913, as redesignated by Pub. L. 89597.

Amendments1935—Act Aug. 23, 1935, changed method of estimating reserve balances.