12 USC § 144 - Certain balances counted toward reserves in dependencies and insular possessions | Title 12 - Banks and Banking | U.S. Code

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Current through Pub. L. 112-238. (See Public Laws for the current Congress.)

Four-fifths of the reserve of 15 per centum which a national bank located in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal Reserve System, is required to keep, may consist of balances due such bank from associations approved by the Comptroller of the Currency and located in any one of the reserve cities as now or hereafter defined by law or designated by the Board of Governors of the Federal Reserve System.

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Four-fifths of the reserve of 15 per centum which a national bank located in a dependency or insular possession or any part of the United States outside of the continental United States, and not a member of the Federal Reserve System, is required to keep, may consist of balances due such bank from associations approved by the Comptroller of the Currency and located in any one of the reserve cities as now or hereafter defined by law or designated by the Board of Governors of the Federal Reserve System.

Source

(R.S. § 5192; July 1, 1952, ch. 536, 66 Stat. 314; Pub. L. 86–70, § 7,June 25, 1959, 73 Stat. 142; Pub. L. 86–114, § 3(b)(3),July 28, 1959, 73 Stat. 263.)

Codification

R.S. § 5192 derived from act June 3, 1864, ch. 106, § 31,13 Stat. 108, which was the National Bank Act. See section 38 of this title.

Amendments

1959—Pub. L. 86–114struck out “central reserve or” before “reserve cities”.

Pub. L. 86–70struck out “in Alaska or” before “in a dependency”.

1952—Act July 1, 1952, reduced the required amount of cash on hand from two-fifths to one-fifth of the required reserve of 15 per centum.

Effective Date of 1959 Amendment

Amendment by Pub. L. 86–114effective three years after July 28, 1959, see section 3(b) ofPub. L. 86–114, set out as a Central Reserve and Reserve Cities note under former section 141 of this title.

Exception as to Transfer of Functions

Functions vested by any provision of law in Comptroller of the Currency, referred to in this section, not included in transfer of functions to Secretary of the Treasury, see note set out under section 1 of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Friday, May 3, 2013

An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.

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Abbreviations used in the Description of Change column:

An empty field implies a standard amendment.
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"nt" means note.
"nt [tbl]" means note [table].
"prec" means preceding.
"fr" means a transfer from another section.
"to" means a transfer to another section.
"omitted" means the section is omitted.
"repealed" means the section is repealed.
"nt ed change" and "ed change" - See the Editorial Classification Change Table [pdf].

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General Reference

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12 USC	Description of Change	Session Year	Public Law	Statutes at Large

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12 USC § 144 - Certain balances counted toward reserves in dependencies and insular possessions

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