New York Banking Law

Sec. § 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 two of this chapter.
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Last accessed
Dec. 13, 2016