12 U.S.C. § 464
Section 464 · Checking against and withdrawal of reserve balance
This is § 19 of the Federal Reserve Act of 1913
Amended 6 times on record
Applied in 8 court decisions — leading case Amsouth Bank v. Dale (2004)
Most recently applied in Alaska Trustee, LLC v. Ambridge (March 2016)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
The required balance carried by a member bank with a Federal Reserve Bank may, under the regulations and subject to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.
Editorial notes U.S. Code · Office of the Law Revision Counsel
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.
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.