12 U.S.C. § 465 : US Code - Section 465: Basis for ascertaining deposits against which required balance is determined

Search 12 U.S.C. § 465 : US Code - Section 465: Basis for ascertaining deposits against which required balance is determined

In estimating the reserve balances required by this chapter,
member banks may deduct from the amount of their gross demand
deposits the amounts of balances due from other banks (except
Federal Reserve banks and foreign banks) and cash items in process
of collection payable immediately upon presentation in the United
States, within the meaning of these terms as defined by the Board
of Governors of the Federal Reserve System.