Section 703 - Requirement of reserve fund(a) An institution which is not subject to reserve fund requirements of the Federal Reserve System shall maintain at all times a reserve fund in an amount fixed by regulation of the department. The amount of the required reserve for each day shall be computed on the basis of average daily deposits covering such bi-weekly or shorter periods as shall be fixed by regulation of the department.(b) An institution which is subject to reserve fund requirements of the Federal Reserve System shall maintain at all times a reserve fund in accordance with the requirements of the laws of the United States.1965, Nov. 30, P.L. 847, No. 356, § 703. Amended 1980, May 21, P.L. 173, No. 51, § 7, effective in 30 days; 1982, April 8, P.L. 262, No. 79, § 10, imd. effective.