N.M. Admin. Code § 12.16.62.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.16.62.8 - RESERVE REQUIREMENTS

A. For state chartered banks which are not members of the federal reserve system, reserves against deposits required under Section 58-1-20 NMSA 1978 shall be those reserves required of state chartered banks by Regulation D of the board of governors of the federal reserve system.

B. Compliance with the requirements under Regulation D, as same may be amended from time to time, shall be considered as compliance with all state requirements for reserves against deposits.

N.M. Admin. Code § 12.16.62.8

12/16/82, 12/8/83, 3/15/97; Recompiled 10/15/01