New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 16 - BANKING
Part 62 - RESERVE REQUIREMENTS
Section 12.16.62.8 - RESERVE REQUIREMENTS
Universal Citation: 12 NM Admin Code 12.16.62.8
Current through Register Vol. 35, No. 18, September 24, 2024
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.
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