[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR204.5]

[Page 138]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 204--RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)--Table of Contents
 
Sec. 204.5  Emergency reserve requirement.

    (a) Finding by Board. The Board may impose, after consulting with 
the appropriate committees of Congress, additional reserve requirements 
on depository institutions at any ratio on any liability upon a finding 
by at least five members of the Board that extraordinary circumstances 
require such action.
    (b) Term. Any action taken under this section shall be valid for a 
period not exceeding 180 days, and may be extended for further periods 
of up to 180 days each by affirmative action of at least five members of 
the Board for each extension.
    (c) Reports to Congress. The Board shall transmit promptly to 
Congress a report of any exercise of its authority under this paragraph 
and the reasons for the exercise of authority.
    (d) Reserve requirements. At present, there are no emergency reserve 
requirements imposed under this section.

[45 FR 56018, Aug. 22, 1980]