§ 463. — Limitation on amount of balance with any depository institution without access to Federal Reserve advances.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC463]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER XIV--BANK RESERVES
Sec. 463. Limitation on amount of balance with any depository
institution without access to Federal Reserve advances
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 \1\ of this title a sum in excess of 10 per centum of its
own paid-up capital and surplus.
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\1\ See References in Text note below.
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(Dec. 23, 1913, ch. 6, Sec. 19(e), formerly Sec. 19 (par. 8), 38 Stat.
270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32,
Sec. 10, 40 Stat. 239; renumbered Sec. 19(e), Pub. L. 89-597, Sec. 2(b),
Sept. 21, 1966, 80 Stat. 824; Pub. L. 96-221, title I, Sec. 105(e), Mar.
31, 1980, 94 Stat. 140.)
References in Text
Section 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, Sec. 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 Pub. L. 89-597.
Remainder of subsec. (e) of such section 19 is classified to section 374
of this title.
Amendments
1980--Pub. 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.
Effective Date of 1980 Amendment
Amendment by Pub. L. 96-221 effective on first day of sixth month
which begins after Mar. 31, 1980, see section 108 of Pub. L. 96-221, set
out as a note under section 248 of this title.
Section Referred to in Other Sections
This section is referred to in sections 248, 1424, 1828, 3105 of
this title.
