Page:United States Statutes at Large Volume 94 Part 1.djvu/189

 PUBLIC LAW 96-221—MAR. 31, 1980

94 STAT. 139

"(A) balances maintained for such purposes by such depository Vault cash. institution in the Federal Reserve bank of which it is a member or at which it maintains an account, except that (i) the Board may, by regulation or order, permit depository institutions to maintain all or a portion of their required reserves in the form of vault cash, except that any portion so permitted shall be identical for all depository institutions, and (ii) vault cash may be used to satisfy any supplemental reserve requirement imposed pursuant to subsection (b)(4), except that all such vault cash shall be excluded from any computation of earnings pursuant to subsection (b)(4)(C); and "(B) balances maintained by a depository institution which is not a member bank in a depository institution which maintains required reserve balances at a Federal Reserve bank, in a Federal Home Loan Bank, or in the National Credit Union Administration Central Liquidity Facility, if such depository institution. Federal Home Loan Bank, or National Credit Union Administration Central Liquidity Facility maintains such funds in the form of balances in a Federal Reserve bank of which it is a member or at which it maintains an account. Balances received by a depository institution from a second depository institution and used to satisfy the reserve requirement imposed on such second depository institution by this section shall not be subject to the reserve requirements of this section imposed on such first depository institution, and shall not be subject to assessments or reserves imposed on such first depository institution pursuant to section 7 of the Federal Deposit Insurance Act (12 U.S.C. 1817), section 404 of the National Housing Act (12 U.S.C. 1727), or section 202 of the Federal Credit Union Act (12 U.S.C. 1782). "(2) The balances maintained to meet the reserve requirements of Liquidity subsection (b) by a depository institution in a Federal Reserve bank or requirements. passed through a Federal Home Loan Bank or the National Credit Union Administration Central Liquidity Facility or another depository institution to a Federal Reserve bank may be used to satisfy liquidity requirements which may be imposed under other provisions of Federal or State law.". O> The first sentence of section 5A(b)(l) of the Federal Home Loan t) Bank Act (12 U.S.C. 1425a(b)) is amended— (1) by striking out "and" before "(D)"; and (2) by inserting before the period at the end thereof the following: "; and (E) balances maintained in a Federal Reserve bank or passed through a Federal Home Loan Bank or another depository institution to a Federal Reserve bank pursuant to the Federal Reserve Act". 12 USC 226. MISCELLANEOUS AMENDMENTS

SEC. 105. (a) The first paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 342) is amended— (1) by inserting "or other depository institutions" after "member banks"; (2) by inserting "or other items" after "payable upon presentation" the first and third place it appears therein; (3) by inserting "or other items" after "payable upon presentation within its district"; (4) by inserting "or other depository institution" after "nonmember bank or trust company" each place it appears therein;

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