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 of this title a sum in excess of 10 per centum of its own paid-up capital and surplus.
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.
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.
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, August 13, 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.
Description of Change
Statutes at Large
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