Connecticut General Statutes 36a-120 – Reserves for Connecticut banks and Connecticut credit unions
Current as of: 2023 | Check for updates
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(a) The amount and form of reserve requirements for Connecticut banks and Connecticut credit unions shall be those provided in 12 USC Section 461 et seq., as from time to time amended, and any regulations issued thereunder.
Terms Used In Connecticut General Statutes 36a-120
- banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
- Commissioner: means the Banking Commissioner and, with respect to any function of the commissioner, includes any person authorized or designated by the commissioner to carry out that function. See Connecticut General Statutes 36a-2
(b) Notwithstanding subsection (a) of this section, whenever, in the opinion of the commissioner, the protection of depositors of any or all Connecticut banks or Connecticut credit unions, or both, requires, the commissioner may order such banks and credit unions to maintain such reserves in an amount and in such form as the commissioner deems appropriate.