---
kind: "section"
citation: "12 U.S.C. § 464"
title: "12"
title_heading: "Banks and Banking"
number: "464"
heading: "Checking against and withdrawal of reserve balance"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/464"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter XIV — Bank Reserves"
---

# §464. Checking against and withdrawal of reserve balance


The required balance carried by a [member bank](/usc/12/221a.md?p=a) with a Federal [reserve bank](/usc/12/221a.md?p=a) may, under the regulations and subject to such penalties as may be prescribed by the [Board](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System, be checked against and withdrawn by such [member bank](/usc/12/221a.md?p=a) for the purpose of meeting existing liabilities.


## 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.)

## Notes

### Editorial Notes

### Codification

Section is comprised of subsec. (f), formerly ninth par., of section 19 of act Dec. 23, 1913, as redesignated by Pub. L. 89–597.

### Amendments

1942—Act July 7, 1942, 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 Aug. 23, 1935, changed name of Federal Reserve Board to Board of Governors of the Federal Reserve System.