N.Y. Banking Law Section 167
Reserves against deposits

Every private banker shall maintain total reserves against his deposits of the same amount and kind and on hand or on deposit to the same extent as is at the time required by or pursuant to the provisions of this chapter of a bank doing business in the same place. If any private banker shall fail to maintain the reserves required by this section, he shall be liable for and shall pay any assessments levied by the superintendent as provided in article 2 (Department of Financial Services)article two of this chapter.

Source: Section 167 — Reserves against deposits, https://www.­nysenate.­gov/legislation/laws/BNK/167 (updated Sep. 22, 2014; accessed Jun. 15, 2024).

Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 167’s source at nysenate​.gov

Link Style