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12 U.S.C. § 141 — Omitted
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is amended by striking out ‘central reserve or’; “(4) section 2 of the Act of March 3, 1887 (ch. 378; 24 Stat. 560) is repealed; “(5) the last paragraph of section 2 of the Federal Reserve act (12 U.S.C., sec. 224) is a
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Source file: Laws/federal/codes/united-states-code/title-12/section-141-omitted--b1cfb78891.md
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Source location: Title 12, Chapter 2, § 141; chapter-002-national-banks.md
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### 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 amended by striking 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 central 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 reserve 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) and inserting in lieu thereof the following: ‘(1) by member banks in reserve cities, (2) by member banks not in reserve cities, or (3) by all member banks’; and “(11) the seventh paragraph of such section is further amended by striking out ‘and central reserve cities’.”
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Federal law — U.S. Code and appendices · legal_authorities
The continental United States, excluding Alaska, shall be divided into not less than eight nor more than twelve districts. Such districts may be readjusted and new districts may from time to time be created by the Board of Governors of the Federal Reserve System, not to exceed twelve in all: Provided, That the districts shall be apportioned with due regard to the convenience and customary course of business and shall not necessarily be coterminous with any State or States. Such districts shall be known as Federal reserve districts and may be designated by number. When the State of Alaska or Hawaii is hereafter admitted to the Union the Federal Reserve 11 Capitalized as in original. districts shall be readjusted by the Board of Governors of the Federal Reserve System in such manner as to include such State. Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its district in accordance with the provisions of this chapter and shall thereupon be an insured bank under the Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.], and failure to do so shall subject such bank to the penalty provided by [section 501a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section501a&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
National banking associations located in reserve cities or central reserve cities shall maintain reserves provided for in [section 462 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section462&num=0&edition=prelim) for banks so located.
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Federal law — U.S. Code and appendices · legal_authorities
Every national banking association located in Alaska or 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, shall at all times have on hand in lawful money of the United States an amount equal to at least 15 percent of the aggregate amount of its deposits in all respects. Whenever the lawful money of any such association shall fall below 15 percent of its deposits such association shall not increase its liabilities by making any new loans or discounts other than by discounting or purchasing bills of exchange payable at sight nor make any dividends of its profits until the required proportion between the aggregate amount of its deposits and its lawful money of the United States has been restored. And the Comptroller of the Currency shall notify any such association whose lawful money reserve shall be below the amount required to be kept on hand to make good such reserve, and if such association shall fail for thirty days thereafter so to make good its lawful money the Comptroller may, with the concurrence of the Secretary of the Treasury, appoint a receiver to wind up the business of the association as provided in [section 192 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section192&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 143
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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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Federal law — U.S. Code and appendices · legal_authorities
The organization of reserve districts and Federal reserve cities shall not be construed as changing the present status of reserve cities except in so far as this chapter changes the amount of reserves that may be carried with approved reserve agents located therein.
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System shall be authorized and empowered:
**(a) Examination of accounts and affairs of banks; publication of weekly statements; reports of liabilities and assets of depository institutions; covered institutions**
(1) To examine at its discretion the accounts, books, and affairs of each Federal reserve bank and of each member bank and to require such statements and reports as it may deem necessary. The said board shall publish once each week a statement showing the condition of each Federal reserve bank and a consolidated statement for all Federal reserve banks. Such statements shall show in detail the assets and liabilities of the Federal reserve banks, single and combined, and shall furnish full information regarding the character of the money held as reserve and the amount, nature, and maturities of the paper and other investments owned or held by Federal reserve banks.
(2) To require any depository institution specified in this paragraph to make, at such intervals as the Board may prescribe, such reports of its liabilities and assets as the Board may determine to be necessary or desirable to enable the Board to discharge its responsibility to monitor and control monetary and credit aggregates. Such reports shall be made (A) directly to the Board in the case of member banks and in the case of other depository institutions whose reserve requirements under sections 461, 463, 464, 465, and 466 of this title exceed zero, and (B) for all other reports to the Board through the (i) Federal Deposit Insurance Corporation in the case of insured State savings associations that are insured depository institutions (as defined in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section
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Federal law — U.S. Code and appendices · legal_authorities
Page 57
TITLE 12—BANKS AND BANKING
§ 141
1 See References in Text note below.
Executive Documents
TRANSFER OF FUNCTIONS
For transfer of functions to Secretary of the Treas-
ury, see note set out under section 55 of this title.
§ 122. Repealed. Pub. L. 97–258, § 5(b), Sept. 13,
1982, 96 Stat. 1068
Section, act July 14, 1890, ch. 708, § 6, 26 Stat. 289, re-
lated to deposits received by the Treasurer from na-
tional banks made to redeem circulating notes of such
banks and disposition of those deposits.
§ 122a. Redeemed notes of unidentifiable issue;
funds charged against
Federal Reserve bank notes redeemed by the
Treasurer of the United States under section
121a of this title shall be charged against the
balance of deposits for the retirement of Federal
Reserve bank notes under the provisions of sec-
tions 122 and 445 1 of this title; and charges for
Federal Reserve notes redeemed by the Treas-
urer of the United States under section 121a of
this title shall be apportioned among the twelve
Federal Reserve banks as determined by the
Board of Governors of the Federal Reserve Sys-
tem.
(June 13, 1933, ch. 62, § 2, 48 Stat. 128; Pub. L.
89–427, § 4(b), May 20, 1966, 80 Stat. 161; Pub. L.
103–325, title VI, § 602(g)(8)(B), Sept. 23, 1994, 108
Stat. 2294.)
Editorial Notes
REFERENCES IN TEXT
Section 122 of this title, referred to in text, was re-
pealed by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat.
1068.
Section 445 of this title, referred to in text, was re-
pealed by act June 12, 1945, ch. 186, § 3, 59 Stat. 238.
AMENDMENTS
1994—Pub. L. 103–325 struck out ‘‘National-bank notes
and’’ before ‘‘Federal Reserve bank notes redeemed’’
and ‘‘national-bank notes and’’ after ‘‘deposits for the
retirement of’’.
1966—Pub. L. 89–427 substituted provisi
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 141
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