
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC144]

 
                       TITLE 12--BANKS AND BANKING
 
                        CHAPTER 2--NATIONAL BANKS
 
            SUBCHAPTER VIII--RESERVE CITIES; LAWFUL RESERVES
 
Sec. 144. Certain balances counted toward reserves in 
        dependencies and insular possessions
        
    Four-fifths of the reserve of 15 per centum which a national bank 
located in a dependency or insular possession or any part of the United 
States outside of the continental United States, and not a member of the 
Federal Reserve System, is required to keep, may consist of balances due 
such bank from associations approved by the Comptroller of the Currency 
and located in any one of the reserve cities as now or hereafter defined 
by law or designated by the Board of Governors of the Federal Reserve 
System.

(R.S. Sec. 5192; July 1, 1952, ch. 536, 66 Stat. 314; Pub. L. 86-70, 
Sec. 7, June 25, 1959, 73 Stat. 142; Pub. L. 86-114, Sec. 3(b)(3), July 
28, 1959, 73 Stat. 263.)

                          Codification

    R.S. Sec. 5192 derived from act June 3, 1864, ch. 106, Sec. 31, 13 
Stat. 108, which was the National Bank Act. See section 38 of this 
title.


                               Amendments

    1959--Pub. L. 86-114 struck out ``central reserve or'' before 
``reserve cities''.
    Pub. L. 86-70 struck out ``in Alaska or'' before ``in a 
dependency''.
    1952--Act July 1, 1952, reduced the required amount of cash on hand 
from two-fifths to one-fifth of the required reserve of 15 per centum.


                    Effective Date of 1959 Amendment

    Amendment by Pub. L. 86-114 effective three years after July 28, 
1959, see section 3(b) of Pub. L. 86-114, set out as a Central Reserve 
and Reserve Cities note under section 141 of this title.

                  Exception as to Transfer of Functions

    Functions vested by any provision of law in Comptroller of the 
Currency, referred to in this section, not included in transfer of 
functions to Secretary of the Treasury, see note set out under section 1 
of this title.
