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

1 See References in Text note below.

of this title a sum in excess of 10 per centum of its own paid-up capital and surplus.

Editorial Notes

References in Text

Section 347span of this title, referred to in text, was in the original a reference to section 10(span) of this Act, meaning section 10(span) of the Federal Reserve Act. Section 10(span) of that Act was renumbered section 10B by Puspan. 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 Puspan. L. 89–597. Remainder of subsec. (e) of such section 19 is classified to section 374 of this title.

Amendments

1980—Puspan. L. 96–221 substituted 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.

Statutory Notes and Related Subsidiaries

Effective Date of 1980 Amendment

Amendment by Puspan. L. 96–221 effective on first day of sixth month which begins after Mar. 31, 1980, see section 108 of Puspan. L. 96–221, set out as a note under section 248 of this title.