DEPOSITS IN THE GOLD SETTLEMENT FUND
(a) Each federal reserve bank shall, not later than May 24, 1915, forward to the Treasury or the nearest Sub-Treasury, for credit to the account of the gold settlement fund $1,000,000 in gold, gold certificates or gold order certificates, and, in addition, an amount at least equal to its net indebtedness due to all federal reserve banks.
(b) The Treasurer of the United States or Assistant Treasurer will, in accordance with arrangements made with the Treasury Department, advise the Federal Reserve Board, by mail or telegraph, of the receipt of all funds deposited on account of the gold settlement fund, and the Treasurer will issue and deliver to the Federal Reserve Board gold order certificates made "payable to the order of the Federal Reserve Board" covering the sum so deposited.
(c) Each federal reserve bank shall maintain a balance in the gold settlement fund of not less than $1,000,000.
(d) Excess balances may, at the convenience of each federal reserve bank, remain deposited with the gold settlement fund.
IV
CUSTODY OF FUNDS
(a) A safe in the Treasury vault will be set apart for the exclusive use of the Federal Reserve Board.
(b) To open the Treasury vault, the presence of two persons designated by the Secretary of the Treasury is required. The combination of the safe set apart for the use of the board will be controlled by two persons designated by the board.
(c) A vault record shall be kept, giving a memorandum of all entrances to the safe, by whom made, for what purpose, and the certificates deposited or withdrawn. Each entry on the vault record book shall be signed by the persons having access to the safe.