(Mar. 9, 1933, ch. 1, title I, § 4,48 Stat. 2; Pub. L. 96–221, title VII, § 705,Mar. 31, 1980, 94 Stat. 187; Pub. L. 97–320, title IV, § 407,Oct. 15, 1982, 96 Stat. 1513; Pub. L. 97–457, § 21,Jan. 12, 1983, 96 Stat. 2509.)
1983—Subsec. (b)(1). Pub. L. 97–457
inserted “a State or” before “a State official”.
1982—Subsec. (b)(1). Pub. L. 97–320
substituted “In the event that a State official authorized by law designates any day as a legal holiday for ceremonial or emergency reasons, for the State or any part thereof, that same day shall be a legal holiday for all national banking associations or their offices located in that State or the part so affected. A national banking association or its affected offices may close or remain open on such a State-designated holiday unless the Comptroller of the Currency by written order directs otherwise” for “In the event that a State or a State official authorized by law designates any day as a legal holiday for either emergency or ceremonial reasons for all banks chartered by that State to do business within that State, that same day shall be a legal holiday for all national banking associations chartered to do business within that State unless the Comptroller of the Currency shall by written order permit all national banking associations located in that State to remain open”.
1980—Pub. L. 96–221
designated existing provisions as subsec. (a) and added subsec. (b).
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note set out preceding section
, Territories and Insular Possessions.
Bank Holiday of 1933
Proclamations Nos. 2039, 2040, and 2070, dated Mar. 6, 1933, Mar. 9, 1933, and Dec. 30, 1933, respectively, related to the temporary suspension of banking transactions beginning Mar. 6, 1933, by all member banks of the Federal Reserve System.
Pursuant to Ex. Ord. No. 6073, dated March 10, 1933, formerly set out as a note under this section, the Secretary of the Treasury by order of March 11, 1933, authorized all Federal reserve banks and nonmember banks and other banking institutions to resume their normal and usual banking functions on March 13, 1933, subject to certain restrictions. See 31 C.F.R. 121.20–121.22. The fifth and sixth paragraphs of Ex. Ord. No. 6073, relating to the removal of gold coin, gold bullion, or gold certificates from the United States by corporations, etc., including banking institutions and authorization of banking institutions to pay out gold coin, gold bullion or gold certificates, were revoked by Ex. Ord. No. 11825, Dec. 31, 1974, 40
, set out as a note under section
of this title.
Proc. No. 2725. Exemption of Member Banks of Federal Reserve System
Proc. No. 2725, Apr. 7, 1947, 12
, 61 Stat. 1062
NOW, THEREFORE, I, HARRY S. TRUMAN, President of the United States of America, acting under and by virtue of the authority vested in me by section 5(b) of the Trading with the Enemy Act of October 6, 1917, 40 Stat. 415
, as amended [section
of Appendix to Title
], and section 4 of the act of March 9, 1933, 48 Stat. 2
[this section] and by virtue of all other authority vested in me, do hereby, in the interest of the internal management of the Government, proclaim, order, direct, and declare that the said proclamations of March 6 and March 9, 1933, and Executive order of March 10, 1933, as amended, are further amended to exclude from their scope banking institutions which are members of the Federal Reserve System: Provided, however, That no banking institution shall pay out any gold coin, gold bullion, or gold certificates, except as authorized by the Secretary of the Treasury, or allow the withdrawal of any currency for hoarding.
This proclamation shall become effective as of March 15, 1947.