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48.221 RESERVES.
A state bank or trust company shall maintain reserves in the form of liquid assets at a level
reasonably necessary to meet anticipated withdrawals, commitments, and loan demand. Reserves
shall be in cash, cash items in process of collection, short term obligations of or demand balances
with other insured financial institutions in the United States and its territories, or short term, direct
obligations of or guaranteed by the United States government. Obligations must mature within
one year to be considered short term. The commissioner may prescribe the required amount of
reserves in relation to liabilities for any individual state bank or trust company from time to
time based upon examination findings or other reports relating to the bank or trust company
that are available to the commissioner. Reserves for an individual state bank or trust company
as prescribed by the commissioner pursuant to this section shall be enforced in accordance with
sections 46.24 and 46.30 to 46.33.
History: 1981 c 182 s 2; 1982 c 424 s 130; 1997 c 187 art 3 s 8

Official Publication of the State of Minnesota
Revisor of Statutes