12 U.S.C. § 464 — Checking against and withdrawal of reserve balance

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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System , be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.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. 89–597, § 2(b) , Sept. 21, 1966 , 80 Stat. 824 .) 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. 89–597 . Amendments 1942—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 . CFR Title Parts 12 210

Related documents

• 15 U.S.C. § 767 — Transitional and savings provisions#567381
• 22 U.S.C. § 2355 — Retention and use of certain items and funds#579392
• 25 U.S.C. § 4026 — Return of withdrawn funds#583031
• 22 U.S.C. § 285m — Withdrawal rights covering United States Special Resources#580486
• 22 U.S.C. § 2605 — Use of funds and personnel; savings provision#579195