12 USC § 464 - Checking against and withdrawal of reserve balance

---
identifier: "/us/usc/t12/s464"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 464 - Checking against and withdrawal of reserve balance"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "464"
section_name: "Checking against and withdrawal of reserve balance"
chapter_number: 3
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "XIV"
subchapter_name: "BANK RESERVES"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 19(f), formerly § 19 (par. 9), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, § 10, 40 Stat. 239; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; July 7, 1942, ch. 488, § 3, 56 Stat. 648; renumbered § 19(f), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)"
---


# § 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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 19(f), formerly § 19 (par. 9), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 691; June 21, 1917, ch. 32, § 10, 40 Stat. 239; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704; July 7, 1942, ch. 488, § 3, 56 Stat. 648; renumbered § 19(f), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)

## Editorial Notes

### Codification

Section is comprised of subsec. (f), formerly ninth par., of section 19 of act , as redesignated by .

### Amendments

1942—Act , struck out proviso which prohibited making new loans or paying dividends until required balance was restored.

## Statutory Notes and Related Subsidiaries

### Change of Name

Section 203(a) of act , changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.