12 U.S.C. § 464 - U.S. Code - Unannotated Title 12. Banks and Banking § 464. Checking against and withdrawal of reserve balance

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to such penalties as may be prescribed by the Board of Governors of the Federal Reserve System, be checked against and withdrawn by such member bank for the purpose of meeting existing liabilities.