---
kind: "section"
citation: "12 U.S.C. § 465"
title: "12"
title_heading: "Banks and Banking"
number: "465"
heading: "Basis for ascertaining deposits against which required balance is determined"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/465"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter XIV — Bank Reserves"
---

# §465. Basis for ascertaining deposits against which required balance is determined


In estimating the reserve balances required by this chapter, [member banks](/usc/12/221a.md?p=a) may deduct from the amount of their gross demand deposits the amounts of balances due from other [banks](/usc/12/221a.md?p=a) (except Federal [Reserve banks](/usc/12/221a.md?p=a) and foreign [banks](/usc/12/221a.md?p=a)) 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](/usc/12/221a.md?p=a) of Governors of the Federal Reserve System.


## Source credit

(Dec. 23, 1913, ch. 6, § 19(g), formerly § 19 (par. 10), 38 Stat. 270; Aug. 15, 1914, ch. 252, 38 Stat. 692; June 21, 1917, ch. 32, § 10, 40 Stat. 240; Aug. 23, 1935, ch. 614, title III, § 324(b), 49 Stat. 714; renumbered § 19(g), Pub. L. 89–597, § 2(b), Sept. 21, 1966, 80 Stat. 824.)

## Notes

### 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.