12 USC § 463 - Limitation on amount of balance with any depository institution without access to Federal Reserve advances

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

No member bank shall keep on deposit with any depository institution which is not authorized to have access to Federal Reserve advances under section 347b ^[1] of this title a sum in excess of 10 per centum of its own paid-up capital and surplus.

[1] See References in Text note below.

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[1] See References in Text note below.

Source

(Dec. 23, 1913, ch. 6, § 19(e), formerly § 19 (par. 8), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, § 10,40 Stat. 239; renumbered § 19(e),Pub. L. 89–597, § 2(b),Sept. 21, 1966, 80 Stat. 824; Pub. L. 96–221, title I, § 105(e),Mar. 31, 1980, 94 Stat. 140.)

References in Text

Section 347b of this title, referred to in text, was in the original a reference to section 10(b) of this Act, meaning section 10(b) of the Federal Reserve Act. Section 10(b) of that Act was renumbered section 10B by Pub. L. 102–242, title I, § 142(a)(2),Dec. 19, 1991, 105 Stat. 2279, without a corresponding amendment to this section.

Codification

Section is comprised of part of subsec. (e), formerly eighth par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597. Remainder of subsec. (e) of such section 19 is classified to section 374 of this title.

Amendments

1980—Pub. L. 96–221substituted provisions limiting amount of balance required to be kept with any depository institution without access to Federal Reserve advances, for provisions limiting amount of balance required to be kept with any State bank or trust company.

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–221effective on first day of sixth month which begins after Mar. 31, 1980, see section 108 ofPub. L. 96–221, set out as a note under section 248 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 Tuesday, April 16, 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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"nt [tbl]" means note [table].
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"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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12 USC	Description of Change	Session Year	Public Law	Statutes at Large

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12 USC § 463 - Limitation on amount of balance with any depository institution without access to Federal Reserve advances

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