10VAC5-20-20. Reserves of Virginia Banks.
Table of Contents » Title 10. Finance and Financial Institutions » Agency 5. State Corporation Commission » Chapter 20. Banking and Savings Institutions » 10VAC5-20-20. Reserves of Virginia Banks.
The percentage of reserves to be maintained against deposits, as established in accordance with § 6.2-889 of the Code of Virginia, shall be: 0.0% against demand deposits, and 0.0% against time deposits.
This chapter shall not relieve any bank from complying with all applicable federal laws and with Regulation D, "Reserve Requirements of Depository Institutions," of the Board of Governors of the Federal Reserve System.
§§ 6.2-889 and 12.1-13 of the Code of Virginia.
Derived from VR225-01-0203, eff. July 1, 1981; amended, Volume 28, Issue 01, eff. September 1, 2011.