Administrative Code

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Virginia Administrative Code
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.

Statutory Authority

§§ 6.2-889 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from VR225-01-0203, eff. July 1, 1981; amended, Virginia Register Volume 28, Issue 1, eff. September 1, 2011.

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