12 U.S.C. § 464 : US Code - Section 464: Checking against and withdrawal of reserve balance
Search 12 U.S.C. § 464 : US Code - Section 464: Checking against and withdrawal of reserve balance
The required balance carried by a member bank with a Federal
Reserve Bank may, under the regulations and subject to such
penalties as may be prescribed by the Board of Governors of the
Federal Reserve System, be checked against and withdrawn by such
member bank for the purpose of meeting existing liabilities.
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Limitation on amount of balance with any depository institution without access to Federal Reserve advances
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Basis for ascertaining deposits against which required balance is determined