§ 141. — Central reserve and reserve cities; designation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC141]
TITLE 12--BANKS AND BANKING
CHAPTER 2--NATIONAL BANKS
SUBCHAPTER VIII--RESERVE CITIES; LAWFUL RESERVES
Sec. 141. Central reserve and reserve cities; designation
The cities of New York and Chicago are designated as central reserve
cities, and the following cities are designated as reserve cities:
Boston Indianapolis
Albany Chicago
Brooklyn and Bronx Peoria
Buffalo Detroit
Philadelphia Grand Rapids
Pittsburgh Milwaukee
Baltimore Minneapolis
Washington St. Paul
Richmond Cedar Rapids
Atlanta Des Moines
Little Rock Dubuque
Louisville Sioux City
Memphis Kansas City, Mo.
Nashville St. Joseph
Cincinnati Jacksonville
Cleveland Birmingham
Columbus New Orleans
Toledo Dallas
El Paso Pueblo
Fort Worth Muskogee
Galveston Oklahoma City
Houston Tulsa
San Antonio Savannah
Waco Seattle
St. Louis Spokane
Lincoln Portland
Omaha Los Angeles
Kansas City, Kans. Oakland
Topeka San Francisco
Wichita Ogden
Helena Salt Lake City
Denver
The Board of Governors of the Federal Reserve System may at any time
reclassify cities so designated as reserve and central reserve cities,
may add to the number so classified, or terminate the designation of any
cities as such.
(R.S. Sec. 5191; Dec. 23, 1913, ch. 6, Sec. 2, 38 Stat. 251; Aug. 23,
1935, ch. 614, title II, Sec. 203(a), 49 Stat. 704.)
Central Reserve Cities
Section 3(b)(1), (2), of Pub. L. 86-114, July 28, 1959, 73 Stat.
263, reclassified New York and Chicago as reserve cities and
terminated the classification of central reserve city and the
authority of the Board of Governors of the Federal Reserve System to
classify or reclassify cities as central reserve cities, effective 3
years after July 28, 1959. See Central Reserve and Reserve Cities
note, set out under this section.
Codification
R.S. Sec. 5191 derived from act June 3, 1864, ch. 106, Sec. 31, 13
Stat. 108, which was the National Bank Act, and act Mar. 1, 1872, ch.
22, 17 Stat. 32. See section 38 of this title.
Change of Name
Section 203(a) of act Aug. 23, 1935, changed name of Federal Reserve
Board to Board of Governors of the Federal Reserve System.
Central Reserve and Reserve Cities
Section 3(b) of Pub. L. 86-114, July 28, 1959, 73 Stat. 263,
provided that: ``Effective three years after the date of the enactment
of this Act [July 28, 1959]--
``(1) New York and Chicago are reclassified as reserve cities
under the Federal Reserve Act;
``(2) the classification `central reserve city' under the
Federal Reserve Act, and the authority of the Board of Governors of
the Federal Reserve System to classify or reclassify cities as
`central reserve cities' under such Act, are terminated;
``(3) section 5192 of the Revised Statutes of the United States
(12 U.S.C., sec. 144) is amended by striking out `central reserve
or';
``(4) section 2 of the Act of March 3, 1887 (ch. 378; 24 Stat.
560) is repealed;
``(5) the last paragraph of section 2 of the Federal Reserve act
(12 U.S.C., sec. 224) is amended by striking out `and central
reserve cities';
``(6) section 11(e) of the Federal Reserve Act (12 U.S.C., sec.
248e) is amended by striking out `and central reserve' each place it
appears;
``(7) the third paragraph (lettered (a)) of section 19 of the
Federal Reserve Act (12 U.S.C., sec. 462) is amended by striking out
`or central reserve';
``(8) the fifth paragraph (lettered (c)) of such section 19 is
repealed;
``(9) subparagraph (2) of the sixth paragraph of such section 19
(as added by the first section of this Act) is amended by striking
out `and a member bank in a central reserve city may hold and
maintain the reserve balances which are in effect under this section
for member banks described in paragraph (a) or (b),';
``(10) the seventh paragraph of such section 19 is amended by
striking out clauses (1), (2), (3), and (4) and inserting in lieu
thereof the following: `(1) by member banks in reserve cities, (2)
by member banks not in reserve cities, or (3) by all member banks';
and
``(11) the seventh paragraph of such section is further amended
by striking out `and central reserve cities'.''
Section Referred to in Other Sections
This section is referred to in section 481 of this title.
