New Jersey § 17:9a-187
Full text of New Jersey New Jersey Statutes § 17:9a-187, with citation guidance and answers to common questions.
§ 17:9a-187.
A. Every savings bank shall maintain reserve balances on deposits and on such other
liabilities of the savings bank in amounts as prescribed by the Federal Reserve Board
pursuant to the “Depository Institutions Deregulation and Monetary Control Act of
1980,” P.L. 96-221 , and in such additional amounts as the Commissioner of Banking may prescribe from
time to time by regulation if he deems those additional amounts necessary for the
safety and soundness of the institution. The reserve balances may consist of (1) lawful currency of the United States, (2)
demand deposits made (a) in a reserve depositary as defined in section 49, 1 or (b) in a federal home loan bank of which the savings bank is a member, or (c)
subject to the approval of the commissioner, in any bank, savings bank or trust company
incorporated under the laws of any state of the United States or the District of Columbia,
whether or not such bank, savings bank or trust company is a member of the Federal
Reserve System, (3) immediately available funds which are transferred or sold by such
savings bank to a member or nonmember bank of the Federal Reserve System for a period
not to exceed the opening of business on the next succeeding banking day for such
savings bank or (4) such other assets as the Commissioner of Banking may from time
to time prescribe by regulation. Any additional reserve amounts prescribed by the commissioner pursuant to this subsection
shall not exceed the amounts established for like institutions by the Federal Reserve
Board. B. The Commissioner of Banking may by regulation prescribe the method to be used
in computing the required reserve. 1
N.J.S.A. § 17:9A-49.
Frequently Asked Questions About New Jersey § 17:9a-187
What does New Jersey Statutes § 17:9a-187 cover?
Section 17:9a-187 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:9a-187?
A common citation format is "New Jersey Statutes § 17:9a-187" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:9a-187 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.