VII
DEFICITS
(a) Should the debit settlement balance of any federal reserve bank be in excess of the amount of its credit in the gold settlement fund, such deficit must be immediately covered either by the deposit of gold, gold certificates, or gold order certificates in the Treasury or nearest Sub-Treasury, or by credit operations with other federal reserve banks which have an excess balance with the gold settlement fund. Any delay in covering such deficit shall be subject to such charge as the Federal Reserve Board may impose.
(b) As required in III (c) of this regulation, each federal reserve bank shall maintain a balance in the gold settlement fund of not less than $1,000,000. Should the credit balance of any federal reserve bank in such fund fall below $1,000,000, such bank shall restore its balance to that amount in either manner indicated under VII (a) of this regulation on or before Tuesday of the following week.