Title 12, Banks and BankingRelease 119-102
§465 Basis for Ascertaining Deposits Against Which Required Balance Is Determined
Title 12 › CHAPTER 3 — FEDERAL RESERVE SYSTEM › SUBCHAPTER XIV — BANK RESERVES › § 465
Summary
Banks may deduct from their demand deposits amounts due from other banks (excluding Federal Reserve and foreign banks) and cash items payable immediately, as defined by the Fed.
Full Legal Text
Title 12, §465
Banks and Banking, Source: USLM XML via OLRC
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.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This chapter, referred to in text, was in the original “this Act”, meaning act Dec. 23, 1913, ch. 6, 38 Stat. 251, known as the Federal Reserve Act. For complete classification of this Act to the Code, see
References in Text
note set out under section 226 of this title and Tables. Codification Section is comprised of subsec. (g), formerly tenth par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597.
Amendments
1935—Act Aug. 23, 1935, changed method of estimating reserve balances.
Reference
Citations & Metadata
Citation
12 U.S.C. § 465
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102