12 U.S.C. § 463 | Limitation on amount of balance with any depository institution without access to Federal Reserve advances

1 See References in Text note below.

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.

Dec. 23, 1913, ch. 6, § 19(e) 38 Stat. 270 Aug. 15, 1914, ch. 252 38 Stat. 691 June 21, 1917, ch. 32, § 10 40 Stat. 239 Pub. L. 89–597, § 2(b)Sept. 21, 196680 Stat. 824 Pub. L. 96–221, title I, § 105(e)Mar. 31, 198094 Stat. 140 (, formerly § 19 (par. 8), ; , ; , ; renumbered § 19(e), , , ; , , .)

Editorial Notes

References in Text

Section 347b of this title Pub. L. 102–242, title I, § 142(a)(2)Dec. 19, 1991105 Stat. 2279 , 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 , , , without a corresponding amendment to this section.

Codification

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

Amendments

Pub. L. 96–2211980— 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

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