12 U.S.C. § 224 — Status of reserve cities under former statutes
submitted 113 years ago by ch. 6 to r/title-12-BANKS-AND-BANKING · 43 words · no verdicts yet
Setting up reserve districts and Federal Reserve cities does not change the existing status of reserve cities, except to the extent this chapter changes how much reserve money banks may keep with approved reserve agents in those cities.
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.
Source credit: (Dec. 23, 1913, ch. 6, § 2 (part), 38 Stat. 253; Pub. L. 86–114, § 3(b)(5), July 28, 1959, 73 Stat. 264.)
- 1913Enacted · Act of Dec. 23, 1913, ch. 6 · 38 Stat. 253
- 1959Amended · Pub. L. 86-114 · 73 Stat. 264
A history note hasn’t been published yet. The record shows enactment by ch. 6 on 1913-12-23.
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