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12 U.S.C. § 144 — Certain balances counted toward reserves in dependencies and insular possessions
Federal law — U.S. Code and appendices · legal_authorities
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.
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Source file: Laws/federal/codes/united-states-code/title-12/section-144-certain-balances-counted-toward-reserves-in-dependencies-and-insular-pos--bfb8c55426.md
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Source location: Title 12, Chapter 2, § 144; chapter-002-national-banks.md
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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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Office of the Comptroller of the Currency established** There is established in the Department of the Treasury a bureau to be known as the “Office of the Comptroller of the Currency” which is charged with assuring the safety and soundness of, and compliance with laws and regulations, fair access to financial services, and fair treatment of customers by, the institutions and other persons subject to its jurisdiction.
**(b) Comptroller of the Currency**
(1) **In general** — The chief officer of the Office of the Comptroller of the Currency shall be known as the Comptroller of the Currency. The Comptroller of the Currency shall perform the duties of the Comptroller of the Currency under the general direction of the Secretary of the Treasury. The Secretary of the Treasury may not delay or prevent the issuance of any rule or the promulgation of any regulation by the Comptroller of the Currency, and may not intervene in any matter or proceeding before the Comptroller of the Currency (including agency enforcement actions), unless otherwise specifically provided by law.
(2) **Additional authority** — The Comptroller of the Currency shall have the same authority with respect to functions transferred to the Comptroller of the Currency under the Enhancing Financial Institution Safety and Soundness Act of 2010 as was vested in the Director of the Office of Thrift Supervision on the transfer date, as defined in section 311 of that Act [[12 U.S.C. 5411](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5411&num=0&edition=prelim)].
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1
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Federal law — U.S. Code and appendices · legal_authorities
The Act entitled “An Act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,” approved June 3, 1864, shall be known as “The National Bank Act.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 38
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, R.S. § 5191 (part); acts Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 251; Aug. 23, 1935, ch. 614, title II, § 203(a), 49 Stat. 704, which set out a list of reserve and central reserve cities and permitted the Board of Governors of the Federal Reserve System to reclassify, add to, or terminate the designation of such cities, was apparently included in the 1926 ed. of the Code on the basis of authorities other than the source credits. Accordingly, and because the continuing accuracy of the table was doubtful, this section was omitted.
Some of the other provisions of R.S. § 5191 are classified to sections 142 and 143 of this title and some were not included in the Code.
For classification of other provisions of section 2 of act Dec. 23, 1913, see Codification note set out under [section 222 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section222&num=0&edition=prelim).
#### Central Reserve and Reserve Cities
Pub. L. 86–114, § 3(b), July 28, 1959, 73 Stat. 263, provided that: “Effective three years after the date of the enactment of this Act [July 28, 1959]— “(1) New York and Chicago are reclassified as reserve cities under the Federal Reserve Act; “(2) the classification ‘central reserve city’ under the Federal Reserve Act, and the authority of the Board of Governors of the Federal Reserve System to classify or reclassify cities as ‘central reserve cities’ under such Act, are terminated; “(3) section 5192 of the Revised Statutes of the United States (12 U.S.C., sec. 144) is amended by striking out ‘central reserve or’; “(4) section 2 of the Act of March 3, 1887 (ch. 378; 24 Stat. 560) is repealed; “(5) the last paragraph of section 2 of the Federal Reserve act (12 U.S.C., sec. 224) is a
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 141
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Federal law — U.S. Code and appendices · legal_authorities
Page 58
TITLE 12—BANKS AND BANKING
§ 142
Statutory Notes and Related Subsidiaries
CENTRAL RESERVE AND RESERVE CITIES
Pub. L. 86–114, § 3(b), July 28, 1959, 73 Stat. 263, pro-
vided that: ‘‘Effective three years after the date of the
enactment of this Act [July 28, 1959]—
‘‘(1) New York and Chicago are reclassified as re-
serve cities under the Federal Reserve Act;
‘‘(2) the classification ‘central reserve city’ under
the Federal Reserve Act, and the authority of the
Board of Governors of the Federal Reserve System to
classify or reclassify cities as ‘central reserve cities’
under such Act, are terminated;
‘‘(3) section 5192 of the Revised Statutes of the
United States (12 U.S.C., sec. 144) is amended by
striking out ‘central reserve or’;
‘‘(4) section 2 of the Act of March 3, 1887 (ch. 378; 24
Stat. 560) is repealed;
‘‘(5) the last paragraph of section 2 of the Federal
Reserve act (12 U.S.C., sec. 224) is amended by strik-
ing out ‘and central reserve cities’;
‘‘(6) section 11(e) of the Federal Reserve Act (12
U.S.C., sec. 248e) is amended by striking out ‘and cen-
tral reserve’ each place it appears;
‘‘(7) the third paragraph (lettered (a)) of section 19
of the Federal Reserve Act (12 U.S.C., sec. 462) is
amended by striking out ‘or central reserve’;
‘‘(8) the fifth paragraph (lettered (c)) of such section
19 is repealed;
‘‘(9) subparagraph (2) of the sixth paragraph of such
section 19 (as added by the first section of this Act)
is amended by striking out ‘and a member bank in a
central reserve city may hold and maintain the re-
serve balances which are in effect under this section
for member banks described in paragraph (a) or (b),’;
‘‘(10) the seventh paragraph of such section 19 is
amended by striking out clauses (1), (2), (3), and (4)
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 144
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